Hi CeeJay,
Thanks for the weather update !!!
I have basically been following Ng and Dec. Corn, doing a day trade now and again if I catch it right.
As a part of that, I always follow Dx and Euro.
Last night on the evening news they had a piece on heavy rains stringing East across IL, IN and into Ohio - say Chicago and somewhat south.
Do you have any "current comments" on this, or a link to a map of precipitation for the "Midwest Corn belt" that I can follow ???
I'm curious what the traders reaction might be in the Corn market tonight/tomorrow as that piece on the network news sure sounded like they are/were getting substantial rain.
I have been of the frame of mind that for the most part, the damage has been done and no amount of rain at this point is going to help the crop much, if at all.
As for Ng, I'm on a fence a little. Continued heat in the South east and east should keep demand strong. Production seems to be staying flat/maybe declining a little, while Price has fallen off from the 3.2 area to the 2.9 area, so we'll see ......
On Earnesto: Barring any "infrastructure damage" I don't expect much to come of it. Should it turn north and bring rain into Texas and the South west it will kill off demand and hence should be a "negative on price".
Looks like the storm will be too far west to bring production shut ins, but even then should have minimal impact as GOM production is not all that significant with all of the Ng in storage.
Hope all is well,
Thanks, Lee