To subscribe to Agweek, click here. The run-up in Chicago and Winnipeg markets that culminated March 17 was the first weather scare of the season. There are more weather rallies to come.
Crops are far from planted, let alone at any critical development stage.
If speculators are moderately excited now, they might be crazed by early July. The corn market doesn't need more weather hype to stay in a firm to higher long-term trend. We expect the setback in corn futures to be short-term and to end between now and April 4. May. The setback in soybean futures might be short term, too. Strong global demand plus another blast of weather worries easily could pull beans back up soon.