Wheat futures followed corn lower, and for similar reasons. US HRW crop health continues to improve – so far in spite of heat – and the US Gulf market maintains steep premiums to comparable origins in Europe & Russia. The Canadian Prairies will see regionally soaking rainfall over the next 3-4 days Even in Chicago,…
US Forecast Warmer/Drier Again: The EU & GFS models are in better agreement through the next 10 days. Broadly favorable – but hot – conditions will continue into the weekend. Thereafter, the models in recent days have trended warmer and drier. Close attention needs to be paid to 6-15 day forecasts, especially with the GFS…
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In this week’s newsletter, we take a look at global soybean supply & demand. We also discuss the season’s first US corn crop condition rating.
** Soybean Acres Tend To Increase In June Report: With the summer row crop planting season either complete or winding down, and the USDA’s June acreage survey approaching, the market focus will increasingly turn to expectations for the June acreage report. The chart plots the historical changes in the acreage estimates between the March Prospective…
