Corn largely followed today’s surge in wheat values, but a new 9-month low in the US dollar is noted, and the major forecasting models today all trended hotter and drier beyond July 6th. June 1 stocks on Thursday will be rather large, near term weather is favorable, but until a shift to cooler and weather…
Wheat futures posted new rally highs (up 36 in Minneapolis) as fears mount on even further yield declines across the Northern Plains, and as Stats Canada cut Canadian wheat acres roughly 350,000 Hectares. And now a warmer and drier trend lies in the offing across much of the Canadian Prairies, further restricting North American production…
US Forecast Trends Warmer Again; N. Plains Drought Intensifies: The US forecast is still rather favorable near term, but also includes a shift to heat and dryness beyond the 4th of July holiday. The updated drought monitor is below, and severe drought is now widespread across the Northern Plains, which likely will continue to promote…
The Climate Impact Company week 2-4 forecast for the U.S. maintains a drought watch for the western Plains as the northern Plains drought area expands southward. There may be some wet weather affecting this parched area late in July.
Following a higher open, July hogs pushed to new contract highs, which also lifted the rest of the hog market. The inventory data is viewed as neutral relative to expectations, but confirmed expectations of record large market hog supplies. As noted in tonight’s research, the USDA is not expected to make any significant changes…
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