Weather concerns are easing

Weather concerns are easing

7-30-07, 9:10 am,

This morning’s weather forecasts clearly offer greater moisture expectations than Friday’s forecast. Also, the favored areas appear to be the areas that have been the primary area of concern.

Due to the fact that overnight values were higher, there are a lot of explanations for this strength focusing on weather concerns. It may be a trap and misleading to offer weather as a legitimate excuse for the rally, and in so doing you may lose the more proper focus of weather—ideas of production potential are on the rise.

Whether it occurs today or waits until after we see the weekly crop ratings this afternoon, it seems quite probable that this week's early firmness will fail before the week is over.

Published Monday, July 30, 2007 9:11 AM
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