EU Weekly Confirms Wetter Pattern in Brazil Starting In Mid February: Confidence in the coming South American pattern shift continues to rise. The EU model’s long term weekly forecasts were updated late Monday. The model’s week 2-3 precip anomaly outlook is below. ARC’s own climate scientist supports this solution, and so soil moisture will be…
Summary: Today, Egypt’s GASC purchased 180,000 MT of wheat each from France and Romania (for delivery in mid-Mar). This is GASC’s first purchase of French wheat since July 2017. Three weeks ago, GASC purchased 415,000 MT from Russia. Today’s offers did include US SRW at $243, but US freight is more than double the cost…
** Lower has been the CBOT theme this AM. Corn/wheat failed to sustain overnight gains while the soy complex tries to push lower without conviction. Private Brazilian soy crop estimates are in decline and hedge fund managers argue that if the US/China can continue to make progress on trade and IP/IT issues, that China’s Gov’t…
Dramatic warm and cold extremes in the 6-10 day forecast. More widespread cold in the extended-range.
A less intense monsoon compared to normal has allowed extreme heat to generate in Australia. The outlook indicates les risk of extreme heat.
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