Semipermanent Feature Of 2017 So Far: The West-Central Russia Trough
The persistent West-Central Russia trough in 2017 has kept Europe beneath a dry/warm ridge during spring. Will that pattern budge?
US Wheat Follows Corn Lower; Spring Wheat Fields Being Abandoned
US wheat futures fell 5-12 cents, with CME contracts leading the way. EU futures followed, and overall the wheat market following summer row crops following improvement in the moisture outlook offered to the Central & Eastern Midwest. US winter wheat crop conditions improved 1% to 50% GD/EX, but spring wheat ratings plunged amid a complete…
Corn Futures End Down Sharply on Near Term Rainfall
Not surprisingly, weather premium was extracted from the corn market, as the major forecast models added rainfall amounts and coverage to the Midwest, and the EU, GFS and Canadian outlooks are in broad agreement through the next 4-5 days. Today’s action is warranted, but we caution against changing one’s outlook on day-to-day fluctuations in weather…
Afternoon Weather Update
Moisture Relief Due in E Midwest; Plains/SW Midwest Hot & Dry: The EU & GFS models are in better agreement, though the GFS remains the wettest/coolest of the major forecasts in the 6-15 day period. Needed rainfall will impact the Central & Eastern Midwest over the next 4-5 days, and the pattern thereafter has indeed…
EU Wheat Supply & Demand Update
The EU wheat crop is getting at least a little smaller. AgResource breaks down balance sheet scenarios.
