How much rain is too much? The first three weeks of June have seen near record rainfall accumulation in Eastern Iowa, the northern half of Illinois and NW Indiana to the point where oxygen deprived crops have growers concerned in those areas. There will be some relief in Eastern Iowa and Northern Illinois as there is limited rainfall forecast this week and some into next. But additional showers are set to bring an additional 2″ to 4″ in Central Illinois, Southern Iowa and Northern Missouri where farms could use a break but might not get one until next week. Nitrogen leaching could be taking place in some areas, but the time for side dressing has likely passed. One contact in Central Illinois lamented they still had spraying to do, but rain kept them out of the field. Some growers may still be able to use Y-drops if it dries out soon to help supplement crops, but that door is quickly closing as well Meanwhile, water deprived regions of Nebraska, Kansas and South Dakota will see 1″ – 3″. The state of Kansas has made a notable shift from dry to wet this month. Nebraska could probably still use more…
Futures trading involves risk. The risk of loss in trading futures and/or options is substantial and each investor and/or trader must consider whether this is a suitable investment. Past performance is not indicative of future results.
Trading advice is based on information taken from trades and statistical services and other sources that CommStock Investments believes to be reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice.
There is no guarantee that the advice we give will result in profitable trades.
The views and opinions expressed in this newsletter are those of the author and do not reflect those of R.J. O'Brien & Associates LLC. This report may contain political opinions as well as market opinions and commentary. Any content provided by Commstock Investments or authors are of their opinion and are not intended to malign any religion, ethnic group, club, organization, company, individual or anyone or anything.
