European Snow Cover Way Ahead of Last Year, Biases Climate Cold
Snowstorms in east/southeast portions of Europe are spreading snow cover rapidly and more snow is expected the next 1-2 weeks.
CME Futures Await this Week’s Cash Trade; South American Weather Pattern Stagnant and Threatening
** AgResource Daily Cattle Analysis: Cattle futures consolidated early week gains, and quietly traded down through Wednesday. Profit taking in both futures and spreads pared back the early week gains but breaks through the midweek trade were also well supported. Trading volume was well under Tuesday high volume session, but still double the average of…
CBOT Mixed Overnight in Low Volume Trade; CONAB Fails to Surprise with 118.8 MMTs Soybean Crop Estimate
** 6:30 AM CBOT Futures Are; March soybeans down 1.0 cent at $9.23, March corn is up .50 of a cent at $3.825 and March Chi wheat is down 1.50 cents at $5.185 ** AgResource Morning CBOT Comment/Analysis: Good Morning! Low volume and mixed has been the overnight CBOT trade as the market appears to…
Brazilian Soybean Production
For the first time since 2016, soybean yield in Brazil is in danger of falling below trend – perhaps substantially. 2015/16 was the last year of significant dryness in Brazil during Jan/February. Should current two-week forecast verify, the dryness this year will be noticeably worse – and more widespread – than in 2016. CONAB on…
Evening Weather Update
No Indication of Pattern Change; Long Term Forecast Concerning: The EU and GFS models remain at odds over near-term rainfall prospects in Central Brazil. ARC heavily favors the better performing EU model, which maintains complete dryness across Mato Grosso, Mato Grosso do Sul, Goias and Minas Gerais into Jan 20th. We detailed in this evening’s…
