May 5, 2023 |
ATI Newsletter 2023 - Week 18
Dryness has surfaced key crop growing areas of the U.S. That is supported by the latest National Weather Service forecast for the month of May, which is projecting below normal precipitation for most of the U.S. corn and soybean production region. Some market observers have commented that the drying trend may be a sign that a drought could develop across the U.S. this summer. Others, however, contend that drier weather could support higher planted acreage totals than projected in the USDA March Prospective Plantings report. As a student of the market, you understand how important it is to avoid using the latest weather forecast to predict price. Instead, working closely with your Advance Trading advisor to manage price risk is a preferred strategy.