Monday, July 16, 2012

"Fifth Straight Week of Higher Opening for Corn"

The front futures are up 30.5 cebts at 7.7075
From Inside Futures:
Good Morning! Paul Georgy with early morning comments for July 16, 2012 at 5:15 am. Corn and soybean futures are sharply higher and appear to be headed to the next handle. Heat moving back into the Midwest the next few days is firing up the bullish emotion and the deteriorating crop potential. World Weather Inc. comments, “… The greatest coverage and amounts of rain expected in the next ten days may occur Tuesday into Thursday of this week. However, most of the rainfall will continue a little too light to counter evaporation with daily highs varying in the middle 80s through the middle 90s and even warmer near and to the west of the Missouri River. It will be very difficult for very many locations to experience a net boost in soil moisture for more than a quick day or possibly two. Most of the rain will be lost to evaporation within a few hours of its fall suggesting crop stress will prevail in many areas...MORE