South Australia Heat Spike Next Weak
A heat wave is likely next week in south-central to southeast Australia.
Brazilian Climate To Return To Drier Conditions Beginning Next week
Brazil will turn drier after this week.
Afternoon Weather Update
South American Weather Generally Favorable; Argentina Needs Watching: The outlook through the latter part of November in South America is non-threatening, but somewhat quietly pockets of Argentina have been much drier than normal over the last 30 days. This isn’t yet an issue by itself, but does raise warning flags as La Nina develops, and…
Wheat Ends Steady; Crude Rally Gets Interesting
US and European wheat futures ended moderately higher, driven by positioning ahead of the USDA’s report (following another build in funds’ short position last week) and as the rally in crude futures shows no sign of ending. Geopolitical concerns in Saudi Arabia, coupled with falling US crude/gas inventories, has pushed spot WTI crude to $57.30. A…
Corn Unable to Rally; Harvest Still Slowed
Dec corn ended fractionally lower, but downside risk ahead of Thursday’s report is limited. ARC has documented managed funds’ current short position, which is still near record large, and crude’s rally has potential to change the structure of global currency markets – note that even Brazil’s real correlates strongly with crude value over time, and…
