There is still time to reserve your spot at Summit 24, August 7-8 in St. Louis.
Here is a peek at Thursday’s agenda:
For more information & to register click HERE.
What’s HOT
Sizzle or fizzle?
Although soybean oil has fizzled a bit the past couple weeks (after its ~15% run to start the month), the front month contract is still sizzling.
Sunday I talked about bean oil’s forward curve, illustrating the inverse as nearby futures are trading higher than deferred months. Click HERE for the post
For additional context I added the curve from June 28 - prior to oil’s big rally.
Comparing today’s blue line with the orange line for June 28 - the rally was confined in the front-end months, reflecting a tight old crop market.
Deferred months (new crop and beyond), on the other hand, have actually lost ground in July.
HOT topic:
Can you believe we have 3 more months of this? (and likely then some)
Another HOT topic…
A map of extremes:
Another:
Driven by last week’s below-average temps:
Let’s back up a bit and look precipitation departures from April 1 through yesterday, in inches, by state:
All eyes are on August as forecasts are trending much warmer in the weeks ahead.
The clip below shows how the 8-14 temp outlook has progressed over the past week:
Here is today’s update where the impending dome of doom intensified and expanded, yet again:
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