So far this year, the USDA corn outlook has not changed that much, writes Rich Excell in his June 20 post with CME Group. But changes may occur after the USDA releases its June 30 report, which will likely be affected by the current drought-like condition as well as any temperature impacts. The weather patterns have been a topic of intense interest for the ag markets.
The outlook for price for corngoing forward can vary greatly whether it follows either 2012 or 2013 because those years took decidedly different paths in the back half of the year.
Exell looks at current price action and comparisons to past weather conditions to build options spreads on corn that could benefit from potential movement in either direction.
To read his full commentary,