Forecasts for hot and mostly dry weather to continue into mid-July helped push corn and soybean futures higher this morning.
Allendale market analyst Rich Nelson thinks the corn market
has more upside potential.
“We have looked at four other years with this type of set-up in terms of a changing forecast on June 30th, when the initial discussion point really got the market’s interest—and we saw in those years the average summer rally would imply, in this case, around 3.70 for December futures,” Nelson says.
