South America Season 1-3 Ahead Forecast: Wet ARG/Dry BRZ Summertime Set-up
The warm season forecsat is trending wetter in Argentina while Brazil trends drier.
Ethanol Production Up For 5th Week in A Row But Stocks Slip. Producer and Blender Margins Improve.
Summary: US ethanol production rose 0.8%. However, ethanol stocks slipped another 1.2%. Blender demand was estimated to be up 1%. Ethanol imports were 53,000 bbl/day, the second week in a row that imports have been reported. Ethanol producer margins on Oct 30 were 29.05 cents/gln, up from the previous week’s 27.24 cents. Blender margins were…
CBOT Corn Rallies on Strong Cash Basis Bids & Snowy/Wet Midwest Weather; Chile Cancels APEC Leaving Phase 1 Signing Location in Doubt?
** Low volume and mixed is the CBOT at midday as traders tire on the ongoing political woes that are plaguing US/Chinese trade talks. Chile due to its worst social unrest in a generation, canceled the November 16-17 APEC meeting this morning. Chilean President Pinera cited “common sense” for the cancellation with its president needing…
Russian Corn Yields Record High. USDA’s Crop Projection Looks To Be Too Low.
Summary: In the October WASDE, USDA raised their projection for this year’s Russian corn yield by 0.2 MT/HA to 5.51 MT/HA (87.8 Bu/Ac). That’s up 14.6% from last year’s yield of 4.81 MT/HA (76.7 Bu/Ac). The most recent Russian harvest report shows that about sixty-seven percent of the crop has been harvested. This year’s yields…
U.S. Medium-range Forecast: Bold cold will retreat.
A very cold 6-10 day forecast but that chill is in retreat in the extended-range.
