Continue Mostly Dry in the Australia Week 2-4 Outlook
The Australian climate is generally dry the next several weeks worsening drought.
U.S. Medium-range Forecast: Strong Cold TRYING To Sweep Eastward
The core of the cold shifts into the Great Plains during the medium-range.
CBOT Lower on Fund Selling Tied to Friday’s USDA Report; Russian Ag Minister Stays the Course for 2018/19 Wheat
** Lower prices have dominated the CBOT this AM with corn, soybean and wheat futures down on technical and fund related selling. The bearish hangover from Friday’s USDA February report along with down trending charts has left the market with a void of buyers. US/China trade negotiations have not offered any new developments (its overnight…
Brazil’s New-Crop Soy Export Commitments 11% Above Year Ago, Yet USDA Projects Exports to Drop 16.8% This Year.
Summary: Brazil shipped 803,000 MT of soybeans last week. That’s down from the previous week’s 947,000 MT but it is above a year ago. In the Dec WASDE, the USDA raised their projection for Brazil’s old-crop exports by 3.35 MMT to 84.2 MMT (on a Feb-Jan marketing year). To accommodate the increase in exports, USDA raised old-crop beginning stocks…
Cattle Called Firm on $1.00 Higher Cash Trade; South American Weather Favorable into Late February
** AgResource Daily Cattle Analysis: Cattle futures were higher last week and a firm outlook is offered for early trade this morning. April cattle spent the week inching higher into the previous week’s key reversal, and higher late Friday cash trade looks to support the CME at the start of the week. Cash trade…
