Near-Term Forecast Cooler in Northern Plains Next 7 Days; Climate Outlook Implies Return of Soil Moisture Loss into mid-Autumn: The EU/GFS models agree that precip accumulation of 1-2” will impact much of the Dakotas, MN and western IA Sat-Wed. The arrival of this system will act to cool temps across the Northern Plains and Upper…
South American Climate Outlook Mixed into November; Wheat Production Concern Rising: The attached graphic displays the IRI’s updated Sep-Nov South American precip anomaly outlook. Confidence in forecast details is low, but the general thesis is that the cooling of equatorial Pacific Ocean temps will act to sustain dryness across Southern Brazil and Argentina. Normal to…
Macro market uncertainty, late-season rain across the Dakotas and flight to safety in the US dollar have triggered speculative liquidation. Additionally, CBT markets throughout summer have focused intensely on favorable weather across the Eastern Midwest, which will no doubt aid in avoiding outright yield disasters. US corn and soy supplies come Oct 1 will be…
Soybeans Fall on Technical Liquidation: Overnight losses were extended by fund liquidation as November soybeans fell below the 50/100-day moving averages. The US FAS Export Sales Report showed that exporters sold 2.5 Mil Bu of old crop soybeans – with just three weeks left in the crop marketing year. New crop sales set a marketing-year…
CBT Corn Collapses with Soy, Macro Markets/Export Demand Uninspiring: CBT corn futures ended 11-14 cents lower amid broad-based liquidation and a lack of offsetting bullish input. Weather forecasts have trended wetter across the Dakotas and Minnesota, and ongoing dryness in the Eastern Midwest is in focus. Crude futures fell to a new three-month low, with…
