Charts of the day: Soil moisture regime across Europe/Western Russia and the 7-day percent of normal rainfall forecast. Discussion: Late spring rains leave the Black Sea region soil conditions wetter than normal. Patchy dry spots are present in Central Europe. The precipitation outlook for the week ahead is wet across Central Europe and trending drier…
Highlight: Brazil drought worsens. Charts of the day: Day 1-7 forecast. Discussion: Soil moisture conditions across Brazil remain exceptionally dry. Soil moisture conditions improve to the south with marginal wet in central Argentina. The GFS ENS 7-day outlook is very dry except some wet weather across Uruguay. Week-2 Ahead Forecast valid June 27-July 3, 2021:…
AgResource Pre Opening Sunday CBOT Calls Are; Soybeans 15-25 cents lower, corn 8-15 cents lower with wheat called 9-14 cents lower. Sunday Weather and CBOT Market Discussion: Opening week CBT calls are sharply lower on the needed rain that fell across the Central US and the promise of additional rainfall totals in the week ahead.…
Highlight: Northward shifting heat. Chart of the day: NOAA probabilistic July drought forecast with CIC annotations. Discussion: Mid-summer West and North U.S. drought persists with close-calls for the Midwest U.S. while summertime thunderstorms bring soil moisture increase to the mid-south States eastward to the East Coast. Week-2 Ahead Forecast valid June 27-July 3, 2021: Northwest…
CRB Index The CRB index closed lower on liquidation across the commodity spectrum. News from the US Central Bank that it was concerned about rising raw material prices and could slow bond purchases and raise rates as early as 2022, caught traders by surprise. The US dollar rallied on the Fed news and liquidation from…
