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Intellicast Forecasts Above Normal Precip For August, And NOAA Gives Good Insight To The Precip For July.

|Includes:BAC, C, CORN, GLD, JPM, SLV, SOYB, SPDR S&P 500 Trust ETF (SPY), USO, WEAT

Here is the forecast for precipitation in the Month of August.

http://www.intellicast.com/National/Precipitation/Departure10.aspx

Here is what happened in July precip according to NOAA. See areas of 6-8 inches of rain in the circled area. (Normal is 4 inches per the next image below)

NOAA's normal precip map.

Conclusion, August will be wetting than normal and the crops are already wet and wet. We see a complete washout for the soybean as they don't like the wet conditions... in addition to a great corn crop as they love the rain.

Be careful.

Stocks: SPY, SOYB, CORN, WEAT, GLD, SLV, USO, JPM, C, BAC