Different Market, Same Outlook
There are many differences in supply & demand between this year and last, but the price outlook is the same.
There are many differences in supply & demand between this year and last, but the price outlook is the same.
In this week’s newsletter, we take a look at quarterly US wheat stocks, as well as the pace of new crop US export sales to date. US yield models are also updated to reflect NASS’s latest condition reports. Download Report
US Forecast Cooler Next Week; Longer Term Pattern Uncertain: The EU and GFS end the day in good agreement, and both have trended a bit cooler across a bulk of the Central US in the 6-10 day period. High pressure Ridging is still forecast to expand beginning Sun/Monday, but it’s no longer forecast to be…
Spring wheat rallied sharply (again) and a test of $7.00 is likely. Winter wheat future followed, though to a lesser degree, and the issue still remains one of major exporter surpluses. Notice in the graphic at left that the world cash market has not fallen despite the looming harvest. Russia is by far the cheapest…
CBOT corn ended higher, but only slightly so, as the midday GFS on the margin lowered the intensity of high pressure Ridging next week. A warmer and drier pattern still lies in the offing in early/mid-July, but widespread showers are forecast in the near term. It’s tough to say whether 10-day weather is adding or…
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