Indiana fields and crops continue to be in rough shape in many areas, and many areas were hit with heavy rains on Friday. However, that is not impacting market prices. Jim Bower, with Bower Trading, admits navigating a weather market is difficult, “Weather markets are ‘mercurial’ in nature and very difficult to master.” He said this one is especially difficult because we have crops and fields in tough shape in Indiana, but things are much better in the west, “What we need to really get this market to rally is a credible threat to the crop.” He added right now the forecast for the next 10 days and even the next 14 days, does not show such a threat.
Bower says soybean prices are under more pressure than corn because of large world supplies. He warns not to take this soybean market for granted, “I think you need to watch this soybean market a lot closer than many people are thinking. There is a lot of heavy rain around and that may have an impact on soybean development.” He said the real test for the soybean market will be in August when yields are determined.
For more market strategy information, contact Bower Trading at 800-533-8045 or www.bowertrading.com.
This material has been prepared by a sales or trading employee or agent of Bower Trading Inc and is, or is in the nature of, a solicitation. This material is not a research report prepared by Bower Trading Inc. By accepting this communication, you agree that you are an experienced user of the futures markets, capable of making independent trading decisions, and agree that you are not, and will not, rely solely on this communication in making trading decisions.
DISTRIBUTION IN SOME JURISDICTIONS MAY BE PROHIBITED OR RESTRICTED BY LAW. PERSONS IN POSSESSION OF THIS COMMUNICATION INDIRECTLY SHOULD INFORM THEMSELVES ABOUT AND OBSERVE ANY SUCH PROHIBITION OR RESTRICTIONS. TO THE EXTENT THAT YOU HAVE RECEIVED THIS COMMUNICATION INDIRECTLY AND SOLICITATIONS ARE PROHIBITED IN YOUR JURISDICTION WITHOUT REGISTRATION, THE MARKET COMMENTARY IN THIS COMMUNICATION SHOULD NOT BE CONSIDERED A SOLICITATION.
The risk of loss in trading futures and/or options is substantial and each investor and/or trader must consider whether this is a suitable investment. Past performance, whether actual or indicated by simulated historical tests of strategies, is not indicative of future results. Trading advice is based on information taken from trades and statistical services and other sources that Bower Trading Inc believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades.