(NGG24) (BOIL) (KOLD) (UNG) (ZWH24) (ZWK24) (KEN24) (WEAT)
”Weather, natural gas volatility and the grain market"
by Jim Roemer - Meteorologist - Commodity Trading Advisor - Principal, Best Weather Inc. & Climate Predict - Publisher, Weather Wealth Newsletter
- Evening Report - January 10, 2024
To Watch Video >>> P L E A S E C L I C K H E R E
The image above depicts snowfall that may exceed a foot in parts of northern Missouri, eastern Iowa, and towards the Chicago area on Friday afternoon through Saturday morning. Then, two more storms are likely after that, favoring the Ohio Valley, deep south, and the Northeast after January 15th.
Earlier this week, following a spike in February natural gas prices on the potential for extreme cold January weather to freeze some wells in the Plains, prices gave back some of their gains on Wednesday… Why? First of all, tomorrow’s EIA should not be bullish and an easing of the extreme cold will develop later in January due to El Niño.
My video above addresses the climatic factors that will bring some winterkill to Plains wheat and will produce at least two major snowstorms over the next 15 days.
While the wheat market could react to temperatures below zero and a lack of snow cover in parts of Kansas to Oklahoma, the wheat crop “has 9 lives”… and global wheat production and price action will be much more sensitive to northern Hemispheric weather come the spring and summer.
Below is the headline of our recent WeatherWealth newsletter recapping how we advised subscribers, more than a week ago, to buy call options in natural gas and the ETF (BOIL). However, on Tuesday night we recommended exiting those positions.
For a 2-week trial period to WeatherWealth covering all ag and energy markets, please go here: https://www.bestweatherinc.com/new-membership-options/
Thanks for your interest in commodity weather!
Jim Roemer, Scott Mathews, and The Weather Wealth Team
- Please feel free to learn about Jim Roemer, our track record, and how we use weather to help traders, hedgers, and investors. If you have any questions, please don't hesitate to drop me a line - Scott Mathews, Editor
Mr. Roemer owns Best Weather Inc., offering weather-related blogs for commodity traders and farmers. He also is a co-founder of Climate Predict, a detailed long-range global weather forecast tool. As one of the first meteorologists to become an NFA registered Commodity Trading Advisor, he has worked with major hedge funds, Midwest farmers, and individual traders for over 35 years. With a special emphasis on interpreting market psychology, coupled with his short and long-term trend forecasting in grains, softs, and the energy markets, he established a unique standing among advisors in the commodity risk management industry.
Trading futures and options involves a significant risk of loss and is not suitable for everyone. Past performance is not necessarily indicative of future results. There is no warranty or representation that accounts following any trading program will be profitable.
On the date of publication, Jim Roemer did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Disclosure Policy here.
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