Rain makes grain!
Most of the corn production areas are receiving rain and amounts vary from a half to two and a half inches. In most areas the early planted corn acres look good to excellent while the late corn acres in some areas is stressed. Tomorrow we should see the rain coverage.
The trade will be focused on weather and total acreage. The bulls may say that yield has been reduced due to heat and no rain. Proof will not be seen until crop tours begin. All of this being said, it is not over until confirmation of acreage or yield.
One should have taken advantage and made cash sales when the market was at the $4.47 level. If not, do not let December 2016 corn go below $4 with a some sales being made and wait for any bounce into pollination to make more.
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Take it from The Wall Street Journal-Not all CEO’s are Solid Strategists!
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