Highlight: East Australia patchy rains, South-central Europe downpours and a China chill. Fig. 1-2: GFS days 6-10/days 11-15 rainfall forecast across Australia. Discussion: Wet weather associated with frontal zones is indicated during the medium-range across Eastern Australia (Fig. 1-2). The rainfall pattern is patchy and not excessive according to GFS. During September, rainfall was above…
Fig. 1-2: The GFS day 6-10/day 11-15 rainfall forecast across the U.S. AG Belt. Great Plains discussion: This week is dry and warm across the Great Plains. However, an upper trough moves into the West Coast later this week and amplifies. In-between the cooling weather pattern in the West, and the lingering very warm pattern…
AgResource Pre Opening Sunday CBOT Calls Are; Soybeans 1-3 cents lower, corn 1 cent lower to 1 cent higher with wheat called 2 cents lower to 2 cents higher. Sunday Weather & CBOT Market Discussion: Opening week CBT calls are mixed to slightly lower. Although rainfall caused harvest delays across the C & E Midwest…
Summary: Brazil shipped 1,000,000 MT of soybeans this past week. There were 223,000 MT shipped from Argentina. US soybean exports are estimated at 750,000 MT. Brazil could ship 2.70 MMT in October. In the September WASDE, the USDA left its projection for Brazil’s local marketing year exports at 86.5 MMT (but still a record). Exports are…
CRB Index The CRB index marched higher with energy values finishing at their best levels in 3 years. Declining US crude oil supplies heading into the cold season amid rising world demand is lifting world crude, natgas and coal prices. Building world demand should pull spot WTI crude oil to $80.00 by early 2022. The…
