Executive Summary: The Climate Impact Company month 1-3 ahead forecast valid for March to May 2021 is updated. The outlook is based on a constructed analog coupled with the ENSO regime to produce the most likely climate scenarios for each month. The ENSO regime features a persistent La Nina climate despite some warming of the…
AgResource Farm Marketing Advice for Tuesday: 1/ No new advice. The US foodservice industry is trying to get back on its feet as Covid-19 infections drop to their lowest levels since October and the vaccination rate gains speed. 100 Mil Americans should be vaccinated by late March. These signs are encouraging and restocking of the…
Argentina Stays Dry into Mid-March; Crop Stress Compounded by Rising Temps: The EU and GFS model are in good agreement and both are consistent with previous output. Above normal precip will impact all but RGDS in Brazil, with cumulative totals of 4-7” to keep soy harvesting & safrinha seeding slowed across Mato Grosso, Goias, Mato…
Unmoved Southern Hemisphere Wheat Price Weighs on US Futures: The world cash wheat market has again paused amid uncertainty over Mar-May Russian exports and as Southern Hemisphere markets values depressed. Weakness in Argentine fob prices is surprising. Spot Argentine fob is quoted at $263/MT and is by far the world’s cheapest supply. Yet, limited moves…
Preliminary Brazilian trade data released this afternoon showed that Brazilian exporters loaded out 5 MMTs of soybeans in February. Despite the late planting season, the export figure was slightly better than a year ago and the 2nd largest February export figure on record. Harvest is quickly advancing and will surpass 25% this week. The Brazilian…
