A check on wheat growing areas…Looks dry in U.S., wetter Southeast Brazil and generally dry in Australia. Fig. 1-2: U.S. soil moisture anomalies particularly in spring/hard winter wheat growing areas and the 15-day percent of normal rainfall forecast. U.S. discussion: The spring wheat region across the northern U.S. remains in harsh drought while west/southwest Great…
Summary: Brazil shipped 1.02 MMT of soybeans this past week. There were 394,000 MT shipped from Argentina. There was no ship lineup data available to estimate US soybean exports. The Brazil ship lineup indicates that 4.11 MMT could be shipped in September. In the August WASDE, the USDA left its projection for Brazil’s local marketing year…
Subsurface is cooling steadily…supports La Nina onset Q4/2021. Discussion: The Nino SSTA regions were steady neutral phase for the second week in a row last week (Fig. 1). An interesting development in the subsurface…the cool anomaly in the equatorial East Pacific is shifting westward toward the Dateline while warm waters in the equatorial subsurface West…
AgResource Pre Opening Monday CBOT Calls Are; Soybeans 1-3 cents higher, corn steady to 2 cents higher with wheat called 1-2 cents higher Labor Day US Weather & CBOT Market Discussion: Opening week CBT calls are slightly higher on the reported progress that Entergy has made in reconnecting electrical services across Ida struck SE Louisiana,…
Highlight: MJO strengths, shows wet influence on Australia/dry influence on Brazil. However, Australia rains in question. U.S. pattern is mostly very warm and dry. Australia/South America discussion: Due to an expected La Nina, persistent negative phase of the Indian Ocean Dipole (-IOD) and warm SSTA in the tropical Atlantic climate forecasts are generally wetter than…
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