I have to agree with you. But I don't understand the Corn market either. So will be interesting to see what this week brings.
Price has been going up since beginning of June, then dropped off. I suspect there is more going on than just the current dry spell !!!
I looked at the prices for the forward contracts and clearly don't have a clue as to what is giving rise to those prices !!!
Hope CeeJay posts his weather outlook tomorrow, should be interesting to see how both Corn and Ng play out next week. I am going to post a note to CJ. Looks like Tropical storm Debbie is already stirring the Ng pot, but in my mind it is a "non event" unless it really steams up and does some facilities damage. If it just cruses along he gulf coast La into Texas coast the rains should drop the A/C needs and pretty much offset any loss in production for the short term. We'll see how the market reacts to that one as well.