After a three day weekend will the markets focus on weather or outside market influences? Michelle Rook talks to Chip Nellinger of Blue Reef Agri-Marketing about the outlook.
“The weather in the short run is going to dominate, but we certainly need to have one eye on the outside markets,” he says. “If you are going to have a hot and dry streak, with the crop development time we’re at across the “I” states anyway is when you want it.”
The problem is, Nellinger says, if you extend this out into the first half of July or all of July then we’ve got some bigger problems and some real production shortfall potential.
“I’m guessing that it’s not going to be a steady open when we when we see the night trade on Monday evening,” he says. “It is probably going to be sharply one way or the other based on how this forecast is looking.”
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The markets are closed in observance of Juneteenth. Our guest analyst this afternoon is Professor Chad Hart of Iowa State University’s department of economics plus we get chart updates from Cary Artac of Artac Advisory. Listen in:
