Looking Ahead into Commodities

As the second half of the year gets underway, commodities king Dennis Gartman has his eyes on one market that he believes is poised to surge: agriculture.

Corn, wheat and soybean prices saw a massive rally this last week after the USDA reported that grain prices could rally in 2015 and 2016 as a result of crop damage and harvest delays due to excessive rainfall. Corn and wheat soared to year-to-date highs and soybean hit its highest levels since January.

“Usually we get rallies in June and July on drought conditions, but this year we’re getting rallies in the grain markets on excess of rain conditions,” Gartman said last week on CNBC’s “Futures Now.”