MJO Shifts East, Brings Wet Risk To Brazil Later October
Dry and hot weather continues to dominate Brazil but a MJO-induced wet pattern is ahead.
Dry and hot weather continues to dominate Brazil but a MJO-induced wet pattern is ahead.
Heavy rainfall induced by a strong MJO episode affects parts of Australia this week. However, a dry shift is ahead.
Bottom Line: Brazil exported 1,131,000 MT of corn last week. That’s down from last week but triple what the US exported in the same period. It’s also nearly a threefold increase over exports a year ago. Brazil’s corn export “commitments” were estimated to be 22.19 MMT as of Oct 13. That’s up 121% from a…
** AgResource Daily Cattle Analysis: Cattle futures closed down on Monday, and a steady outlook is offered for early trade this morning. Overall, it was a rather dull day of trading in cattle with December holding within Friday’s range and closing slightly weaker, while October was $1.10 lower and just above last week’s active cash…
** 6:30 AM CDT CBOT Prices: Nov soybeans are down 3.50 cents at $9.875, Dec corn is down 1.00 cent at $3.495 while Dec Chi wheat is unchanged at $4.365. ** AgResource AM Grain & Oilseed Comment: Good Morning! Mixed in wheat and mostly lower in the summer row crops has been the overnight theme…
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