Summary: USDA is projecting this year’s Russian wheat yield will be 2.59 MT/HA (38.5 Bu/Ac). That’s down nearly 12% from the previous projection and down 13.1% from last year. The record yield is 3.11 MT/HA (46.24 Bu/Ac). The most recent Russian harvest report shows this year’s yields are well below last year at this time. On Sunday, President Putin…
Discussion: Last week the Nino34 SSTA region (where ENSO phase is monitored) dipped to -0.9C which is well within the La Nina threshold (Fig. 1). The Nino3 region also turned cooler dipping beneath the La Nina threshold. Near the Dateline and off the northwest coast of South America SSTA is neutral. In the subsurface, the…
Highlight: -AO/-WPO/-EPO/-NAO climate signals indicated ahead…Favors deceleration of heat and a wetter pattern into September. Chart of the day: The 7-day outlook. Discussion: A cool upper trough shifts toward mid-continent. The result is cooler weather for the northern U.S. Rockies and the Canadian Prairies. Very warm to hot and humid weather is east of…
Forecast is Wet in Upper Midwest; Heat/Dryness Linger Elsewhere: Additional rainfall of .50-3.00” will impact MN/WI and parts of the Dakotas and IA later this week. Assuming the 5-day forecast verifies, precip accumulation of 1.50-4.00” will have fallen across the driest areas of the Northern Plains and Upper Midwest between August 21-28th. Such rain will…
AgResource Farm Marketing Advice for Tuesday: 1/ No new advice. The graphic is technically bearish as corn values poke below key support that rested at $5.40. The low of the 2020 corn market was $3.00 (April 2020) with a high at $7.75 in May of 2021. The range of last year’s corn bull was a…
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