RJO FuturesCast

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Agricultural

Tough Start to Growing Season Leaves Corn With Uncertain Future

Posted 06/19/2017 2:07PM CT | Gerry Plotkin

The growing season for corn has not gotten off to the best start. There have been weather issues right along with delayed planting and replanting. These problems could affect yield. Now that the corn is planted, the weather has become somewhat drier. Trade is starting to talk of need for more water as temperatures have also increased. As of 6/19/17, the moisture forecast has become wetter with temperatures around average. This forecast will be helpful for the crops.

Today’s crop progress report should show conditions being slightly better. With that being said, the harvest is still a long way off. The crop has been planted erratically, meaning that pollination will be later in a lot of areas. Again, weather will continue to be a factor. It’s very difficult to be very bearish so far, with the uncertainties of this growing season.

 

Dec ’17 Corn Daily Chart

Dec '17 Corn Daily Chart

Gerry Plotkin