Weather Weather Weather

Corn (July) Fundamentals: Weather has been the King of the castle so far this week and will likely play a bigger role in price action than Thursday’s WASDE report (click this link to see the estimates). Some precipitation has made its way through areas of the Dakotas with the potential for more by the end of the week, removing some of that premium from the Sunday night open. As the forecasts change, so will the money flow.

Technicals: We love technicals, don’t get that wrong, but we acknowledge that this weather is a weather market, which is the main catalyst in price action and money flow. That doesn’t mean they are worthless; it just means that they take a backseat, and it likely means that there will likely be plenty of shorter-term trading opportunities for traders on both sides of the market..........Click this link to read the FULL report and receive our daily commentary

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Previous Session Bias:

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