This morning’s interpretation of parade of shadows on the cave wall…….
It appears like we’re at rest awaiting to see how the balance of the growing season unfolds. In my opinion beans can still benefit, a lot, from some more rains in the Midwest as can the corn which is not in the dent stage…..Per the USDA crop progress report released yesterday at 3pm Central,crop conditions slipped yet, there are arguments whether that is because the crop is ahead of schedule…corn is 26% dented….or it slipped because of the lack of widespread rains in the last half of July and early August……….we’ll have a better idea when we open the fields and that should start sooner than normal which will give producers in the southern Midwest a reason to give a thought and maybe an action to seeding winter wheat on those acres………..
The macro is still the flock of black swans which might give us the potential for sizable percentage price swings……..tariffs, world unrest and money supply management changes are just a few of the scary and frightening things which we might face in the near term……..
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