You wont find a chart like this at any other Forum $$$
Actually, you would have been brilliant IF you had told us to buy March 10th!!
May did close over the 100 day ma and 200 day ma. Nee to hold around 653.50-648 on breaks now. Then see if we can close above 667.75 the 6 month avg. Buying breaks now with the seasonal seems the correct direction.
also add reward rallies with percent old crop sales and some new too Just mho
Mike, you're a trip. We love you!
Corn planting weather forecasts have turned more favorable!
After the severe weather outbreak on Tue/Wed, almost the entire country will turn dry for most of the rest of April.
We haven't really started much corn planting yet, so it's not like we're behind and this completely dry weather pattern change will allow us to catch up.
However, it will result in timely planting in many places in the Southern Cornbelt and eliminate concerns about planting delays.
The Upper Midwest/N.Plains needs some HEAT to go with drying out to get rid of the snow first and warm up the frozen soils.
But the heat will be coming where we don't need it. S.Plains
At the same time, this is very BULLISH the HRW crop in the ground. The one area with drought left in the US is the S.Plains. They need rain, not very warm and dry.
I can't say at this early stage that a turn to very extensive dry weather will not result in speculation of the Plains drought expanding becoming a factor in the speculative trading for corn and beans but KC wheat/HRW is very bullish!
30 day rains below
https://water.weather.gov/precip/
90 day rains below
https://droughtmonitor.unl.edu/
Drought Monitor:
March 28, 2023
Drought monitor previous years: You can see the natural La Niña, (cold water-in the tropical Pacific)causing the drought! Starting in 2020, then worsening for 2+ years!
The ending of La Niña in 2023-heading towards El Nino, is causing the opposite weather-bombarding us with moisture.…..too much in some cases. This is a natural cycle NOT climate change!
+++++++++++
https://www.marketforum.com/forum/topic/83844/#83880
Corn seed likes temperatures above 50 degrees for germination.
This map is updated daily(with previous days data). This upcoming shot of heat will warm temps but producers won't be doing widespread planting in the Midwest, except south for awhile.
https://mesonet.agron.iastate.edu/agclimate/soilt.php
Tried to buy KE-K at 882, then at 882.75.
The low was 883 )-:
Should have went to the market when it was that close )-:
One concern was that the USDA report on Friday was pretty bearish for HRW wheat because of the surprise with increased acreage. Stocks were slightly higher too.
Scroll down at this link to get the entire USDA report:
https://www.marketforum.com/forum/topic/94162/#94236
U.S. #wheat plantings come in heavier than expected due to higher winter and durum acreages, but spring wheat acres come in below both expectations and last year.
After spiking to more than +20c earlier this morning. KE has reversed to lower.
The market dialed in the brutal weather coming up for the S.Plains crop and decided it's still just early April and actually, the models are now suggesting rain chances pick up late in week 2, which wasn't there yesterday.
When that showed up over night, it made me no longer interested in being a buyer, along with the very big increase in acreage from the USDA report.
https://www.tradingview.com/symbols/CBOT-KE1%21/
I'm not able to copy the KE/HRW wheat, unfortunately but here's the SRW contract with more than double the volume.
1. 1 week
2. 1 month
3. 1 year
4. 45 years
https://tradingeconomics.com/commodity/wheat
Mikempt
Shall I ASSUME you are a buyer at this daily cycle low timeframe?
Hi tjc,
Weather not a factor right now but here's some interesting corn information that relates to planting/weather. Average weather is usually bearish for corn.
All the weather is here:
https://www.marketforum.com/forum/topic/83844/
++++++++++++++++++++
U.S. #corn was 2% planted by Sunday, April 2, 2023.
Normal pace so far but still very early. The 10-year average for reaching halfway planted is May 9. Since 1980: Fastest to halfway: 2010 (April 25) Slowest to halfway: 2019 (May 20) 2022 halfway: May 16
https://www.marketforum.com/forum/topic/83844/#83880
Corn seed likes temperatures above 50 degrees for germination.
This map is updated daily(with previous days data).
https://mesonet.agron.iastate.edu/agclimate/soilt.php
Corn price charts for everybody.
1. 1 week
2. 1 month
3. 1 year
4. 25 years
4. 100+ years.
