As June unfolds and as planting comes close to an end, all eyes are turning to weather conditions during the growing season, both domestically and abroad.
At International Agribusiness Group, LLC., managing director Mark Feight said the company is watching weather in eastern Europe, western Europe, and the Black Sea region as dryness and drought starts to spread.
“We’re going to hurt the wheat crop if they don’t get rain in the next three weeks—we’re going to hurt corn further down the road,” he said on AgDay. “U.S. crop looks good, just got to keep raining.”
Bob Utterback, founder of Utterback Marketing Services, LLC., is keeping an eye on the sky as well, especially as the USDA will release its World Agricultural Supply and Demand Estimates next week and if it will “reflect the trade’s more tighter global stocks to use ratio figures.”
“We’ve got to be prepared for the July, October seasonal correction time period,” he said.
Hear what Feight and Utterback both learned during last week’s trade as the month begins on AgDay above.