AG Hot Spot: ECMWF Weeklies and South America Rains
A look at the ECMWF Weeklies assessment of rainfall across South America the next 6 weeks.
Europe Week 2-4 Outlook
Highlight: Last week not as cold as forecast but extended-range outlook is cold. Week 2 Ahead: March 18-24, 2018 Comment: A colder trend helped by widespread snowfall adding to an already above normal late season snow cover. The Southern Europe storm track is quite intense. Week 3 Ahead: March 25-31, 2018 Comment: Southern Europe storm…
Wheat Rebounds Slightly; Black Sea Cash Market Weakens
Wheat futures started the week slightly higher amid ongoing fund short positions in Chicago & Minneapolis, and as a majority of the US HRW Belt faces another 10 days of complete dryness. Fortunately temps will be cooler than normal, and so growth and and moisture demand will be slowed, but it remains that weather premium…
Corn Falls Ends Steady; Lofty US Exports To Continue
Corn futures lacked direction following last week’s massive short covering as the market digested the bulk of Argentine corn yield loss due to drought. US corn is well positioned, so a prevailing theme into late spring will be ongoing record large export pace. US exporters sold 14 Mil Bu to Japan & unknown destinations for…
Afternoon Weather Update
Argentine Rainfall Spottier Than Originally Forecast: The EU & GFS models have pushed meaningful rainfall this weekend farther east than what was originally forecast, thus leaving much of Cordoba, La Pampa and Buenos Aires dry into March 20th. Rain will no doubt be welcomed in Santa Fe & Entre Rios, which combine for roughly 25%…
