Charts of the day: Australia soil moisture anomalies. Discussion: Isolated drought areas are affecting Australia. However, most areas especially in crop regions contain wet soils. Week-2 Ahead Forecast valid July 18-24, 2021: Wet along the South Coast. Discussion: The storm track (persistent cold fronts) stretches along the southern Australia coast and triggers anomalous rainfall. North…
Highlight: Staying mostly dry. Charts of the day: Expected prevailing rainfall forecast for August and September. Discussion: Increasing trade winds bring a wet climate to northern South America in both August and September. The upper air pattern prevents much southward penetration of the tropical rains in August and a dry Argentina/Brazil forecast is indicated. However,…
AgResource Farm Marketing Advice for Tuesday: 1/ No new advice. WASDE forecast that 2021/22 US corn, soybean and wheat end stocks would be 191 Mil Bu larger than last year at 2.252 Bil Bu. Such stocks would be the 2nd smallest since 2013. The USDA stocks estimate includes US corn/soybean yields that are record or…
The USDA’s adjustments to US corn supply & demand were positive, but as expected the market has quickly reverted to scrutinizing Central US weather. AgResource’s medium-term corn thesis is that the trend of WASDE corn end stocks – both old and new crop – will be steadily lower thru September. It’s clear that USDA’s 2020/21…
The wheat outlook into late winter is straightforward and bullish. The need for US acreage expansion is noted. A fourth consecutive year of exporter stocks/use tightening lends further support. WASDE reduced major exporter production in 21/22 by 2.7 MMTs to 409 MMTs. Total world wheat trade was raised another 770,000 MTs to a new record…
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