OPINION: “The ‘Dome of Doom’ seems to have taken a bite out of the crops,” according to the Cow Guy

“If you can’t stand that saying ‘turnaround Tuesday’, it’s totally understandable.”

Cow Guy Close’s Scott Shellady says that we typically open ag markets strong on Sunday nights, they settle on Monday, then ultimately trade lower on Tuesday. That was not the case this week.

“The markets stayed stronger longer,” Shellady notes. “The ‘Dome of Doom’ seems to have taken a bite out of the crops as conditions have deteriorated and built a bid into the markets this morning.” Tommy Grisafi of Advance Trading Inc. joined Scott to talk about the recent crop conditions report and the impact on the national food supply.

Related:

75% of Missouri is in drought

Global recession fears amplify as commodity prices fall

Consumer sentiment wanes as recession looms

Deal or No Deal: Will Russia stay true and allow Ukraine to export grain?