12.07.2013 - La Nina conditions affecting the globe: Implications for commodities
After a 30% sell-off in grains the last 7-9 months, worries about heat and dryness in the far western belt has returned. Our bearish longer-term stance in grains, since last fall and winter, is at the mercy of "what happens" to corn and soybean crops in Iowa, Nebraska and Kansas the next 4-8 weeks and whether or not heat and dryness expands further east into Illinois and Missouri. Sunday night we began alerting clients to our "less bearish attitude" in grains and that soon the corn and soybean market would take "psychological" notice of a ridge of hot high pressure that is redeveloping over the Midwest and Plains...............................................Full Article: Source
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