How bad is the current drought situation down on the farm? Things are so bad that analysts are now talking about 1956 instead of 1988.
Marlin Clark talks about how the weather is changing the crop market. He also discusses the drought of 1988.
The calendar, the weather man, and the bean counter are all fighting for attention in the market this week. So far the weather man is winning.
Put this week in your diary as the one that determines if we make a weather market run back up on grain prices, or continue the weekend downturn into new lows. Rain will be the reason.
While U.S. crop planting is fast, the market has gone down just as fast. Soybeans were down six of the last eight days. Both beans and corn have dropped hard.
Marlin Clark reacts to recent market fluctuations and discusses what’s ahead in the future.
Sell your old crop soybeans when futures are over 15 and don’t look back. Continue to sell the new crop as it creeps higher.
If the planting pace continues and we have a warm and moist May, we will see new grain market lows in corn.
Some observers are speculating that corn futures could be 3.50 at harvest. Yep, you read that right: $3.50.
Regardless of the fickle nature, good sales opportunities, for both old and new crop grain, are lurking.