Analyst looks for weather volatility in June


Analyst looks for weather volatility in June

A market analyst anticipates some weather volatility this month.

Craig Turner with StoneX tells Brownfield planting delays won’t be a factor much longer.

“There is some weather premium in the market, but prices are so elevated to begin with, and the weather issues have been known for awhile, it still remains to be seen how much of that is priced in.”

But he’s not discounting some significant moves up or down depending on growing conditions.

“Corn up or down a dollar, or soybeans up or down two dollars, just because of either very stressful weather or garden-like weather is certainly a possibility when you get into a summer weather market window with tight domestic stocks and also tight global stocks.”

Turner says a seasonal low could occur this month as winter wheat harvest gets going.