AgResource Farm Marketing Advice for Thursday: 1/ No new advice. July and early August weather is vastly more stressful than 2020 across the Central US. Extreme heat and 3 weeks of below to much below normal rainfall has pushed crops to the soil moisture wall. Next week’s rainfall is critical or crop conditions/yield potential will…
As for now, longer-term climate models do not include any major change in the prevailing pattern into the latter part of August. The EU model’s updated week 3-4 temp anomaly forecast is attached. Heat is forecast to continue in areas plagued by sizable soil moisture deficits. Scattered/regional showers will not change this pattern. Rather, a…
Central US Continues to Trend Warmer in Early August; Nearby Midwest Rain Totals Reduced: The Central US forecast leans market positive as the EU and GFS models keep meaningful precip isolated to eastern Nebraska, Missouri and pockets of western Iowa. Temps cool briefly early next week, but abnormal warmth returns to the Plains and Northern…
AgResource has reduced US all-wheat production in 2021 to just 1,700 million bushels, vs. USDA’s July forecast of 1,743 million. Following two months of HRW/SRW yield hikes, additional boosts to winter production are not anticipated. Accurately accounting for spring wheat abandonment alone reduces the US crop size by 25 million bushels. AgResource also anticipates a…
Nov Soybeans Rally on the Ongoing Weather Concern; New Crop Demand Beginning to Appear: Nov CBT soybeans ended 18 cents higher as widespread Central US moisture relief is unlikely over the next two weeks. More concerning has been the recent model trend of allowing heat to return to the Plains/W Midwest after a brief cool…
