Brazilian Forecast Includes Scattered Showers; Climate Pattern Little Changed: The EU is a bit wetter this evening, and so is in better agreement with its GFS counterpart. Some measure of yield stabilization is possible in Parana and pockets of northern Mato Grosso. However, well below normal rainfall will continue in Brazil into late-month. The attached…
March corn rallied 3 cents. There’s little breaking news available, but nearly all our fundamental models indicate spot futures are too cheap. Net draws in soil moisture will continue in Brazil through the end of January. This really raises the burden on Brazilian rainfall in February and early March. Weekly ethanol data was broadly supportive…
Malaysian Palm Oil Production Holds Below Last Year; Stocks Still Rising: Last week the Malaysian Palm Oil Board reported December palm oil production at 1.8 MMTs. Production rates are now in a normal seasonal decline, and the December output figure was just below a year ago. Total production in the 1st quarter of the year…
Due to the Martin Luther King Jr. holiday in the US, the next edition of the AgResource Weekly Newsletter will be published on Wednesday, January 23rd.
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