Wake Up Call Allendale Advisory Center: Grain markets are higher as outside buying is attracted to Ag markets. The stock indices rally after yesterday’s late session slide. Crude oil and the US Dollar are firmer overnight. Brazil’s senate votes to put president Rousseff on trial.
Industry projections of future USDA corn and soybean balance sheets are providing extremely wide estimates. Bulls are using La Nina to disrupt production and bears are using the price rally to draw more planted acres. Bottom line, the outlook suggests we are in for choppy markets as we go through the summer. It also makes the June 30 Planted acreage report very important. If you haven’t seen the trading range study done by Allendale’s Rich Nelson, please call or email and we will be happy to share it with you.