Happy Tuesday and Happy Flag Day!
Dad's are going to need something to stay cool in the Heartland with near record hot/dry conditions now through Father's Day. Temperatures over the next week will average in the middle 90s to low 100s from Nebraska to Texas bringing some of the hottest conditions in over 25 years, some areas the hottest in 121 years of records. This second heat-wave will cook many crops in the Western half of the Corn Belt and substantially lower yields as some areas are pollinating in the South Central U.S. Corn prices are soaring with the Brazil drought and now concerns the U.S. is headed for the same fate - which we warned last Fall was going to happen.
See our Seeds of Success videos. This heat is going to expand into July which we expect to encompass much of the Eastern 2/3rds of the country. This will likely send corn prices to $6, up a whopping 71% from March lows. To date Corn is already trending up 25% from March lows and +20% above USDA estimates.
Can't tell you how many farmer clients have told us they made a ton of money on our Seeds of Success projections of a major corn rally here in 2016...more to come! :) Can't tell you how many Ag experts told us we were headed for $2.50 corn...oopppssss...without an accurate view of future weather there was no way for them to know what was coming.
The coasts fare much better with Oregon trending the coolest in 6 years and Virginia the coolest in 17 years for this middle June period.
Father's Day weekend looks to be dry for 80% of the country with the only wet spots limited to the extreme Upper Midwest and from Northern Florida to North Carolina. Temperatures will be very cool along the East Coast from Georgia to New Jersey and in the Pacific Northwest. The Central U.S. will be in day 6 of a major heat-wave with expanding heat into the Midwest.
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Have a great week folks! Capt Kirk out.