US Forecast Wetter in 8-15 Day Period: The nearby Central US forecast is unchanged from prior runs and our confidence in the forecast is high. Rain has been added to the W Midwest in the extended range, and so flood concerns will persist. The graphic reflects the GFS model’s 14-day accumulation forecast. Totals upwards of…
Corn futures settled fractionally higher and continues to following neighboring soy and wheat markets. Russia’s proposal to cap wheat exports at 25 MMTs is a big deal for world grain markets in general. We mention that Russia’s proposal would also limit combined corn/barley exports to 5 MMTs, vs. the USDA’s projected 8.8 MMTs. The Black…
US and European wheat futures rallied sharply after it was revealed Russia has proposed to cap total grain exports at 30 MMTs, and wheat exports at 25 MMTs. It’s not yet policy, as a meeting with exporters is scheduled for next week. A 30-day comment period will be required once legislation is drafted. Such news…
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