Highlight: Cold weather into southern Brazil coffee areas this week. Eastern Australia wet weather risk. Fig. 1-2: GFS morning minimum temperature forecast for Tuesday and Wednesday in Brazil. Brazil coffee freeze discussion: An intense low-pressure system off Uruguay propels a strong cold front into Southeast Brazil with an unusually chilly air mass to follow. Both…
Highlight: CIC continuing western Corn Belt drought forecast for mid-summer. Europe short-term rainfall increase, same for Black Sea region. Fig. 1-2: Last week’s Midwest U.S. rainfall and national rainfall anomaly. Great Plains rainfall discussion: During June 20-26 heavy rains affected the southwest and central U.S. Corn Belt. Rainfall amount was in the 1-5-inch range with…
CRB Index The CRB index closed higher on rising energy prices as WTI crude oil futures rose above $74/barrel. This is the highest crude close since October of 2018 with rise above $76.90 (2017-2018 high) projecting to at least $80-85.00. Amid the Biden’s insistence on electrification, new investment in the energy patch has been…
AgResource Farm Marketing Advice for Monday: 1/ No new advice. Managed funds through Tuesday sold 9,000 contracts of corn and 27,000 contracts beans, while buying a net 11,000 contracts of CBT wheat. Since Tuesday AgResource estimates that sold an additional 50,000 contracts of corn, soy and wheat combined. CBT values are historically lofty. Supply premiums…
North American Climate Forecast Consistent; A story of Haves and Have Nots: Model guidance into July 10 is consistent with prior runs and the EU, GFS and Canadian outlooks are in broad agreement. A pattern of soaking rain continues across the far E Plains and Midwest into early next week. Thereafter, meaningful rain will be…
