Highlight: Any sign of the breakdown of the warm pattern? Looking colder first week of November. Charts of the day: Northern hemisphere snow cover anomalies so far and the North America 15-day temperature anomaly outlook. Discussion: Most traders/analysts are fully aware of the importance of snow cover on the northern hemisphere winter temperature regime. In…
Summary: The President of Mexico’s Nat’l Farm Council (CAN) said that Mexico could import a record 19 MMT this year, up from last year’s 16.5 MMT. This forecast is supported by the fact that US corn export commitments to Mexico are a record for this date. ARC projects that the US could capture 97% of…
Highlight: Incoming Great Plains rainfall, Southeast Europe hammered with excessive rainfall. East Australia/Brazil trend wetter. Argentina dryness! Fig. 1-2: The GFS day 1-10 and day 11-15 percent of normal precipitation forecast across the U.S. U.S. precipitation pattern: Into early next week showers/thundershowers arrive in the Great Plains at the onset of a wet pattern lasting…
Summary: Ukraine’s corn yields rose this past week and are well above last year. However, a yield seasonal implies that the final yield will be 6.78 MT/HA, not the 7.2 MT/HA (114.7 BU/AC) that the USDA is projecting. If this happens, Ukraine’s corn crop could be 2.25 MMT less than currently projected. +++++++++++++++++++++++++++ With just…
AgResource Farm Marketing Advice for Friday: 1/ No new advice. 6:30 CT CBT Prices: Nov soybeans are up 9.00 cents at $12.5625, Dec corn is up 2.00 cents at $5.36 with December Chi wheat up 3.75 cents at $7.4425. AgResource Morning Grain/Soy Comment & Analysis: Good Morning! CBT futures rallied overnight as China fully returned…
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