Climate Impact U.S. Warm Season 2018 Climate Outlooks
Climate Impact Company updates the warm season 2018 (May to September) U.S. climate outlook. Please see the attached report for full climate discussion and monthly forecast charts.
AgResource Weekly Newsletter, May 1
In this week’s newsletter, and ahead of next week’s USDA report, we take a look at global corn supply & demand in 2018/19.
South American Corn Supply & Demand
The 2017/18 world corn balance sheet continues to tighten (as evidenced by futures and global fob basis levels). And the Brazilian drought is deepening, and it’s unlikely that rains will restart. The wet season typically ends in mid/late April, and certainly by late May. The graphic shows Apr 1-May precip and assumes the…
Afternoon Weather Update
Heat, Dryness Persist in Western Plains: The US forecast is little changed this evening. Near normal precip and temps will be featured for a majority of the Midwest, while ongoing dryness and rising temps impact the HRW Belt. The graphic below shows maximum high temps on Wednesday, and readings in the mid/upper 80s will be…
Wheat Rallies on Chart Pattern; World Weather Threats
July CME wheat rallied 19 cents, and closed at the highest price since early March. All major moving averages have been exceeded and the market has broken though a long-established channel. Further upside remains as funds continue to exit a net short position. Managed funds in Chicago are estimated to be short a net 30,000…
