USDA is Absolutely Delusional on the State of the Corn Crop!
WeatherTrends360 is calling for hot and dry weather to send corn prices soaring this summer:
This blog is for the thousands of farmers in panic mode because the USDA is completely delusional on the health of the corn crop sending prices in a tail spin. First...STAY CALM...never do anything in a panic and don't sell the farm...prices will soar in the weeks ahead.
Second - the US GFS short range model has way over forecast cool and wet all June long and we're ending up with the hottest June in 22 years across the Corn Belt and rainfall 51% below average for the first 3 weeks so PLEASE DON'T BITE ON THE COLDER/WETTER PATTERN - very unlikely - and the Euro model agrees.
Third - we bought MORE Sept and Dec call options as there is little doubt we're headed for a scorching hot/dry Summer.
Let's go back to this date in 2012...the weather pattern is eerily similar as is the USDA's nonsense. At this point in the 2012 season all was good per USDA despite a hot/dry June and Corn prices were down 14% year-to-date as of middle June 2012. Here we go again!!!! Then we had the hottest/driest July in decades...wt360 projects the 2nd hottest/driest only to 2012 so hang in there...the rally will almost certainly explode in July!