Joe&#x27;s Premium Subscription: www.standardgrain.com Grain Markets and Other Stuff Links — Apple Podcasts Spotify TikTok YouTube Futures and options trading involves risk of loss and is not suitable for everyone. 🌡️ A massive heat dome is set to roast the Plains and Corn Belt next week, pushing real-feel temps above 100°F across the Ohio, Mississippi, and Tennessee Valleys. It&#x27;ll dry out soggy fields but deepen drought stress elsewhere, with stormy edges threatening localized flooding and crop damage too. 🌱 Soybeans held steady Tuesday after two down sessions, with Nov26 parked at $11.42/bu. Corn slid for a third straight day to $4.37/bu on Dec26, even as fresh export demand offered some support. 💰 Input costs are easing, but farmers say it&#x27;s not enough. Wisconsin growers point to lingering strain from Iran-war-driven fertilizer and fuel spikes, with some relief now coming from US-Iran peace talks—though next year&#x27;s fertilizer costs already loom large. 🇨🇳 The US Soybean Export Council is leaning on quality to claw back Chinese demand lost to Brazil. Brazil now grabs over 60% of China&#x27;s soybean imports versus just 23% for the US, a stark flip from a decade ago when both sat near 40%. ⚓ Russian strikes on Ukrainian ports near Odesa could slash the country&#x27;s grain exports by up to 30%. With Ukraine accounting for a meaningful slice of global wheat and corn trade, exports are already running about 12% behind last year&#x27;s pace. ⛽ E15 legislation cleared the House but faces a tougher Senate fight ahead. Minnesota farmer Tim Waibel says oil-industry opposition and an uncertain Senate timeline are the biggest hurdles, even as crop conditions back home look excellent.

"Dome of Doom" Weather Pattern to Hit Corn Belt - Why Don't Traders Care??

Grain Markets and Other Stuff

# Full Transcript

**Podcast:** Grain Markets and Other Stuff

## Participants

- **Joe Vaclavik** (Standard Grain)

## Transcript

Good morning guys, it's Wednesday, June 24th, 524 AM Central Time. Grain Markets are mostly higher this morning. December corn futures up one and a half at 438 and three quarters. November soybeans up three and a quarter at 1145. July Chicago wheat up one at 587 and three quarters. July Kansas City wheat up one and three quarters at 620. September spring wheat up two cents at 619 and a half. We've got some potential weather threat kind of stuff brewing here. Why don't we start there?

So a massive heat dome is expected to settle over the plains and the Corn Belt next week, sending temperatures into the 90s. While recent rainfall will boost humidity levels, pushing real field temperatures above 100 degrees Fahrenheit in some areas. The heat should help dry out regions that have been overly wet, but it will also intensify drought conditions in dry areas. The core of the heat dome is likely to center over the Ohio Valley, mid-Mississippi Valley and Tennessee Valley for much of the week.

The outer edges of the system could spark rounds of severe thunderstorms from the plains into the upper Corn Belt. Temperatures are expected to ease in the second week of July, but will likely remain slightly above average across the plains and the Corn Belt.

I'll tell you what, in a lot of years, that would be a very bullish headline as it relates to corn prices. Midwest heat dome brewing prior to Independence Day. We've been told over the years, and I don't know if it's still true, 90% of corn yield variability is determined in the month of July.

So if you roll into July with hot and dry weather, you would think that that would be problematic. This is how it looks on a map. This is 500 hectopascals geopotential height plus normalized anomaly, essentially a gauge of atmospheric pressure.

And this dome, what it does, the dome of doom, as I've always called it, it locks in heat and it locks out precipitation. So you're looking at a situation here where over the 4th of July, during that kind of period next week, it's like you're going to see pretty minimal rainfall during the 8 to 14 day period. All that blue stuff on this map from Crop Profit, if you guys are watching, that's all like less than half an inch of rain, trace amounts, probably nothing in a lot of those areas.

The notable exception would be parts of Iowa and southern Minnesota. Temperature is going to run well above normal during that 8 to 14 day period. We're talking 5 degrees almost above normal across U.S. corn areas during the 8 to 14 day period. So is this a weather threat? I don't know. Why is the market not concerned? Why doesn't the market care? I think it's because we've got rain in the forecast here for the next 7 days. And if you notice, over the next 7 days, you've got that band that goes across like the kind of southern-ish part of the Corn Belt, a lot of Ill...

"Dome of Doom" Weather Pattern to Hit Corn Belt - Why Don't Traders Care??

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"Dome of Doom" Weather Pattern to Hit Corn Belt - Why Don't Traders Care??

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.