Crop Area Drought Risk Monitor for AUG/SEP to OCT/NOV 2021 Drought concerns areas: Canadian Prairies/North-central U.S. drought region remains the primary concern. Some expansion is possible. Canadian autumn relief but U.S. stays dry. No major drought concerns for Europe/Russia (except Russia spring wheat). Brazil drought eases OCT/NOV; Argentina drought will worsen. Australia is drier than…
AgResource Pre Opening Sunday CBOT Calls Are; Soybeans 5-10 cents higher, corn 3-5 cents higher with wheat 2-4 cents higher. Sunday Weather & CBOT Market Discussion: Opening week CBT calls are higher on crop threatening Central US weather. The weekend was warmer/drier than expected with any meaningful rain dropping from C Minnesota into N Michigan…
Highlight: Today’s 12Z GFS outlook for crop areas. Central stays mostly dry and very warm to hot. Cooler/wetter Europe, hot again into Southwest Russia. Fig. 1-4: U.S. week-1 and week-2 temperature/precipitation anomaly forecasts by the 12Z GFS OP model. U.S. discussion: The midday 12Z GFS emphasizes hot risk to the North-central U.S. this week and…
CRB Index The CRB index finished slightly higher as the energy markets rallied. OPEC+ nations carved out a new deal which included supply increases of 400,000 barrels per month into mid 2022. This supply increase is below what the demand gains that are forecast in world oil demand. The CRB chart is holding in an…
AgResource Farm Marketing Advice for Monday: 1/ No new advice. The Commitment of Traders Report showed a week of buying in the Ag future’s market, bringing an end to the recent liquidation phase. Funds were net buyers in almost all the grain/soy product markets (except for MN wheat where they sold 122 contracts). The largest…
