Changing Weather On The Way?

The latest 8-14 day outlook from the NOAA, appears to be telling us that the weather will be cooling off.

That might not be soon enough for a hit to corn and soybean yields, but it could give us a chance to enter natural gas.

The market has without doubt been pricing in a slight reduction in yield for corn and soybeans and it will be interesting to see where the USDA revises its outlook in the September report.

For natural gas the current run of hot temperatures might not be enough to outperform projected injection levels, as the later season hot streak won't have the level of heat that you might expect in the peak of summer.

I'm still watching the Nov13/Jan14 spread for first signs of a reversal.