by Jim Roemer – Meteorologist – Commodity Trading Advisor – Principal, Best Weather Inc. & Climate Predict – Publisher, Weather Wealth Newsletter 

  •  Wednesday Evening Report:  June 26, 2024  

Friday’s USDA planted acreage report has been known to throw “shockers” into the grain trade. For example, last year’s June 30th acreage report resulted in a surprise drop in soybean acreage and a modest increase in corn acreage. The result? The outcome is usually a major upward move in soybean prices and a collapse in corn prices.

Historically, however, traders turn their attention back to Midwest weather, which right now is ideal, other than flooding in the northwest corn belt. This flooding from the Dakotas, northern Iowa, and Minnesota will NOT be taken into account in this week’s report.

In the past two weeks, it has been our opinion that all of the chatter of hot-dry Midwest weather is HOGWASH because of this warming over Alaska called the negative Eastern Pacific Oscillation Index.

I alerted clients a few days ago about cooler weather. This also pressured natural gas, not just corn and soybeans.

Source:  Weather Wealth Newsletter
  • But… could things change after July 6th?
  • Could there be a bull market in corn and soybeans later?

We’re offering our valued readers a COMPLIMENTARY ISSUE OF WEATHERWEALTH titled:

A gift horse named “cocoa.” The collapse in corn and soybeans & historical USDA late June planting reports”

Just click this link for your free issue:  https://www.bestweatherinc.com/weather-wealth-sample/

The FREE report covers:

  1. What does flooding in northern Iowa, Minnesota, and the Dakotas portend for summer?
  2. Why have we felt all along that La Niña will not form until sometime after September or October and not in July or August?
  3. The history of late June planted acreage reports and how we called for a “mostly” bear market in grains since last summer
  4. Calling the collapse in cocoa prices. What do seasonal factors and the end of El Niño portend for prices?
  5. Recent trading ideas from grains to sugar, natural gas, and coffee
  6. Could there be hot, dry, corn-soybean belt weather deeper into July?

You’ll get the scoop about how weather is affecting global markets. For example: 

  • Talk of dryness in north China is NOT a factor in corn and soybean trading this time of the year and now a big deal.
  • How we predicted improving rainfall for the dry central and eastern corn belt and NO consistent hot, dry corn belt ridge.

Below, is an excerpt of what you’ll receive in the report: