7/16/2024 8:00 am

Corn is slightly higher on dead cat bounce/turn around Tuesday night action but questionable if it can hold all session.

Storms moved across eastern IA and northern IL/IN yesterday afternoon and last night but no major damage reported so far. US weather forecasts remain favorable though for the next 10 days with no major heat for the Midwest. ECB to see rain systems while have to keep eye on drier trend for through 11-15 day period for MN and Dakotas.

US G/E was unchanged at 68% while silking is running ahead of normal at 41% vs 32% avg. Corn in dough stage is 8% vs the 5 year avg of 4%.

Path of least resistance though remains lower as long as weather maps remain favorable for the Midwest.

7/12/2024