Charts of the day: 12Z GFS-day 1-7 forecast. Discussion: Upper wet/cool trough over Europe most of May shifts east to the Black Sea region this week causing a wet and cool pattern change for that region. Another upper trough brings a wet pattern change to Southwest Europe. All of Northern Europe/Northwest Russia is dry this…
Highlight: Northwest heat temporarily eases next week then roars back for mid-to-late June. Gulf States and occasionally the Midwest are wet. Charts of the day: 12Z GFS-day 1-7 forecast. Discussion: Heavy rains persist across Texas. However, to the north of the soaking wet rainfall in the Mid-south U.S. anomalous warmth and possible excessive heat emerges…
Summary: Brazil shipped 2.89 MMT of soybeans this past week. The ship lineup indicates that 14.15 MMT could be shipped in May. That’s less than last week’s estimate because 1.34 MMT was rolled-over to be shipped in June. The ship lineup has dropped sharply in recent weeks. For the past two weeks export “commitments” (shipments to…
AgResource Pre Opening Holiday CBOT Calls Are; Soybeans 12-18 cents higher, corn 6-9 cents higher and wheat 4-7 cents higher with Minneapolis leading. Holiday Weather and CBOT Market Discussion: Happy Memorial Day – Honor those that served and died for our Freedom. Opening week CBT calls are sharply higher on a deepening concern for drought…
Neutral ENSO continues. Slight decline in upper ocean heat. Discussion: Last week little change was observed in the Nino SSTA regions. Neutral ENSO continues (Fig. 1). The upper ocean heat which turned moderately warm during the first half of May and implied weak El Nino could be a possibility in 2021 has subsided the second…
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