Highlight: Nino34 SSTA shifts to weak La Nina SSTA. Discussion: Suddenly, both the Nino34 and Nino3 (east-central/east equatorial Pacific Ocean) regions cool to the La Nina threshold of -0.5C last week (Fig. 1). The cooler SSTA are linked to cooler upper ocean heat in the east-central Pacific last week (Fig. 2). The NCEP CFS V2…
Summary: Brazil shipped 1.64 MMT of soybeans this past week, a 17-week low. Argentine soybean exports were 37,000 MT. US export inspections are estimated to be 120,000 MT. The ship lineup indicates that 11.7 MMT could be shipped in June. In the June WASDE, the USDA raised its projection for Brazil’s local marketing year exports by 650,000…
Chart of the day: Next West U.S. hot event stronger than last week. Discussion: NOAA/CPC indicates an extreme heat risk returning to the West beginning next weekend. This event will be hotter than last week and may feature all-time records for northern California (120F)! Medium-range 6-10 Day Forecast Valid June 26-30, 2021 Medium-range 11-15 Day…
AgResource Farm Marketing Advice for Monday: 1/ No new advice. 6:30 AM CT CBT Prices: July soybeans are down 13.50 cents at $13.825, July corn is down 11.0 cents at $6.4425 and July Chi wheat is down 5.25 cents at $6.575. AgResource Morning Grain/Soy Comment & Analysis: Good Morning! CBT futures started the new week…
Highlight: Marginal drought forecast for Iowa into mid-summer. Des Moines 1.18 Waterloo 0.67 Mason City 0.50 Ottumwa 0.45 Marshalltown 0.85 Lamoni 1.84 Ames 0.60 Estherville 0.14 Table 1: NWS locations across Iowa and their rainfall totals from yesterday. Yesterday’s Iowa rain: Two rainfall events lead to sizeable amounts for many Iowa locations including 1.84 in.…
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