Central US Forecast Includes Snow, Lingering Wet Weather Next 10 Days: The overall US pattern through the middle of May is unchanged from prior runs. Heavy rainfall (and some snow) is expected through late next week, and a cooler than normal temp profile looks to be maintained throughout the period beginning later this week. The…
Winter wheat futures ended near unchanged, spring wheat rallied slightly, and fund short covering waned into the close. However, the US forecast is still too wet or too cold, or both, across most of the wheat belt. Low temps this AM fell into the upper 20s & 30s, and only slightly warmer measures are expected…
CBOT corn futures gave back much of Tuesday’s rally amid recovery in the US dollar, and as the US forecast is just a bit warmer and drier beyond May 6-7. Confidence in this outlook is low, but weather forecasts will increasingly drive short term direction. Taiwan secured a cargo of Brazilian corn for late…
Crop issues are noted currently, but AgResource takes a look at what the USDA is likely to publish in its May WASDE report.
China imported 2.26 MMT of various feeds in March (see chart below). That is down from a year ago when imports were 3.09 MMT. Cumulative imports for the international trade year to date (Oct-Jan) are 10.99 MMT. That’s down 27% from a year ago. This reflects the impact that lower China’s domestic corn prices (and…
