Climate Impact Week 2-4 Outlook: Russia
Dryness to prevail in the Black Sea/Ukraine region.
Climate Impact Week 2-4 Outlook: Europe
Mostly dry and warmer than normal across Central Europe while southern areas are susceptible to rain.
US Drought Discussion
Heading into key parts of the 2018 growing season, drought is noticeably more expansive any time since 2014. The graphic below shows the % of land experiencing moderate to exceptional drought as of June. As usual, the bulk of dryness is centered across the High Plains. This includes the Dakotas, KS, NE & CO. Drought…
Wheat Falls Ahead of NASS June Report; World Weather Concerning
US and EU wheat futures fell modestly. NASS in its June report Tuesday may boost US production slightly, but this will be more than offset by production losses elsewhere. The Black Sea forecast is more concerning than previously. US winter wheat ratings were 38% GD/EX, vs. 37% a week ago. Spring ratings were unchanged at…
Corn Down Again Ahead of NK Summit
CBOT corn futures fell to their lowest level since late February – before the deepening of the Argentine drought and loss of more than 12-15 MMTs of Brazilian corn produciton. The CBOT decline was based on US/China and US/NAFTA trade fears along with traders discussing a US 2018 US corn yield above 180 BPA.…
