Wet Weather Across Europe Mid-May Followed by a Drier Pattern Change
A wet pattern in mid-May reverses drier later this month into early June.
A wet pattern in mid-May reverses drier later this month into early June.
A cool pattern in the U.S. the next 2-3 weeks followed by a warm-up late month into early June. During that transition more wet weather returns to the Great Plains.
In the Apr WASDE, the USDA raised their projection of Argentina’s (Oct 16-Sep ’17) corn exports by 0.5 MMT to 26.5 MMT. Based on weekly Argentine export data as of April 26, April exports are pegged at 2.83 MMT (see red cross-hatched triangle in chart below). That’s up from last year’s 1.97 MMT (see green…
El Nino southern oscillation is in neutral phase and the lack of warm subsurface fuel in the eastern equatorial Pacific indicates no El Nino ahead.
** Following weaker crude oil and a drier W Midwest/Plains weather forecast, CBOT corn, soy and wheat futures are weaker in moderate volume at midday. Soybeans/soyoil have held up better than the grains as traders position for the Commerce Dept decision on whether Argentina/Indonesia are dumping biodiesel into the US? An affirmative finding could lead…
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