AgResource LATAM, June 30
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Thank you for subscribing to AgResource LATAM! Click here to view this week’s report
Highlight: Trending wetter Central Australia. Charts of the day: Short-term forecast. Discussion: Strong positive southern annular mode (+SAM) produces two deep trough patterns southwest and southeast of Australia the next week or so. In-between the two trough(s) a warm ridge pattern sets-up over central Australia. Week-2 Ahead Forecast valid July 4-10, 2021: Warmer (North) revision.…
The June Acreage and Quarterly Grain Stocks reports collectively leaned heavily bullish. June 1 stocks of corn, soybeans, and wheat fell below expectations, while planted acreage in corn/soybeans well fell short of trade expectations. The NASS June data sent CBT futures sharply higher. US farmers responded to high prices/margins and expanded their total crop plantings.…
AgResource Farm Marketing Advice for Thursday: 1/ No new advice. Combined US corn, soybean and wheat stocks are heading to multi- decade lows. The chart reflects that assuming the ARC 2020/21 and 2021/22 end stock forecasts, an acute shortage of grain develops heading in 2022. Its surging demand – more than supply, which is causing…
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