Video: Will a Weak U.S. High-Pressure Ridge = Summer Grain Rally?
U.S. weather remains bearish through mid to late June, but a potential shift to hot, dry conditions in the Western Corn Belt by late June or July could spark a late-summer corn rally. The promised “90 trade deals in 90 days” have yet to materialize, but strong Q1 earnings—up 13%—are keeping stocks on the rise. Meanwhile, wheat is showing a bullish head and shoulders pattern ahead of harvest, and Sunday night weather forecasts are set to play a critical role over the next 10–12 weeks.