Barge freight rates continue to climb in a counter-seasonal, late-year rally. Freight quotes for December began to rally early in the month, but January quotes began moving 2 weeks ago. Much of the strength in barge freight is likely due to low water and draft rates. The last chart shows current measurements and projections to…
CBOT futures have rallied into the midday hour on threatening South American weather and the diminished concern regarding the omicron virus – and that the Biden Administration will not shut down the economy. Soybean futures have pushed to new rally highs with March futures reaching $13.17 while corn/wheat follow. The corn market should be the…
Updating the mid-to-late winter forecast for the U.S.
Highlight: West/North-central frigid regime ahead. East/South are warmer days 6-10. Charts of the day: Snow cover influence on temperature. Discussion: Southern extent of snow cover biases climate colder while lack of southern snow cover shift biases climate warm. Latest Climate Signals Chart Days 6-10 Days 11-15 Arctic Oscillation Strong Negative Negative North Atlantic Oscillation…
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