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| Grains absolutely destroyed today. Down double digits across the board, trading to our lowest levels since April for most of the grains. Taking out some technical support along the way.
Why did we get hammered so hard?
There are always two forecasts. The GFS and the Euro model.
Right now the GFS is saying that the eastern corn belt is in for some rain, while the Euro model says the eastern corn belt will stay drier. (Maps below)
The NW corn belt has received great rains. Eastern belt has not.
They updated the July outlook today. Looking very hot and dry for corn belt..(forecast below)
If they miss the rain and the forecasts for July look like this, things could get interesting..
If they do get timely rain, not sure how much that July forecast will matter..
Read todays market update where we go over all the forecasts, the potential drought in the east, using the inverse in beans & more
Read Here: https://txt.so/al0sGm
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 IMG_3026 (full).jpeg (77KB - 179 downloads)
IMG_3038 (full).png (241KB - 299 downloads)
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Grains hammered. ECB getting rain? - market comments
