Highlights: East turns wetter/Midwest drier. Western/North heat. Executive Summary: The Climate Impact Company month 1-3 ahead forecast valid for AUG/SEP/OCT 2021 is updated. The forecast is not based on a constructed analog. Highlights include a wetter East U.S. pattern due to anticipated influence of tropical moisture. During this pattern areas to the west, the North-central/Midwest…
CRB Index The CRB index finished slightly higher as US ag markets rallied, and energy prices stabilized. OPEC+ nations are expected to meet Sunday to carve out a new deal which should include supply increases to help the world economic recovery. The chart reflects that the reflation/CRB bull market remains firmly intact. This week’s CPI…
Central US Forecast Offers Dryness into July 30; Heat Unwavering Across Northern Plains/Canada: The EU, GFS and Canadian models are consistent and in broad agreement on the two-week forecast. An expansive high pressure Ridge blocks meaningful precip from all but the Southeast/East Coast through the period. The acute lack of soil moisture across the Plains…
Malaysian Palm Oil Up $130/Ton in Three Weeks: Palmoil has rallied sharply in recent weeks, with seasonal lows having been scored in mid-June – which is typical. Palmoil is the world’s most widely consumed vegoil and has knock on influences on all other vegoil markets. It’s worrisome for end users that global vegoil markets have…
AgResource Farm Marketing Advice for Monday: 1/ No new advice. The wheat market has taken over bullish leadership this week as North American spring wheat crops endure worsening drought, crops in Europe are plagued by too much rainfall and as early Russian yields have been surprisingly disappointing. Speculative money has been leaving the CBT wheat…
