Highlight: Washington is likely snowier than normal during early-to-middle spring. Otherwise, dryness dominates. Increasing anomalous warm-to-hot risk later spring into summer. A widening Western U.S. drought is expected this year. Executive discussion: The Climate Impact Company monthly depiction of expected temperature and precipitation regimes for March through July 2021is issued. The forecast is based primarily…
AgResource Farm Marketing Advice for Thursday: 1/ No new advice. In recent wires, AgResource has pointed out that the demand phase of the CBOT bull market ended as China shifted its grain/soy demand to South America amid cheaper price offers. China buys where the best price is available! If another CBOT bull run develops it…
Dryness Tries to Creep Back in Southern Argentina; South-Central Brazil will seed needed rainfall for winter corn. The two-week South American forecast remains consistent with previous with dryness and warming temps to impact Argentina into March 10. Showers will continue across N and C Brazil into the weekend. Brazilian rainfall expands to include Mato Grosso…
Argentine Discount to US Corn Widens Further; Brazilian Corn Offers Absent; Argentine up-river corn basis ranges from $.60-.63/Bu over CBOT futures for delivery into May with the US Gulf at $.80-.85 over. ARC detailed on Tuesday that regardless of coming heat/dryness, Argentina will be a sizable corn exporter beginning in April as the first-crop harvest…
Based on late-season crop ratings in Argentina, AgResource estimates the Argentine soybean crop at 45.5 MMTs, down 3.3 MMTs last year, the smallest harvest since the 2017/18 drought. Harvested area is estimated slightly above a year ago, but below trend yields are based on adverse early/late season weather. Thankfully, late December and January rains were…
