Pieces of the California/Southwest U.S. Heat Wave into The Great Plains. Iowa drying-out! Fig. 1-3: GFS extreme maximum temperature forecast for Wednesday, Thursday and Friday afternoon. 12Z GFS forecast of extreme heat areas in the Great Plains this week: Extreme heat will move into the Great Plains this week. Full-throttle arrival is Wednesday when widespread…
AgResource Pre Opening Sunday CBOT Calls Are; Soybeans 9-18 cents higher, corn 5-12 cents higher and wheat 4-9 cents higher. Sunday Weather and CBOT Market Discussion: Opening week CBT calls are sharply higher on the deepening drought across the N Plains and the northern half of the Midwest. The attached graphic shows percent of normal…
CRB Index The CRB index closed higher on the surge in crude oil futures above $70.00 while the ag markets consolidated awaiting certainty in the summer Central US weather pattern. The US dollar rallied as it held support against $89.20 spot futures. And the US metal markets rallied on the reflation trade. The US CPI…
AgResource Farm Marketing Advice for Monday: 1/ No new advice. Managed funds on Tuesday were long a net 416,000 contracts of corn, CBT wheat and soybeans combined. This compares to 432,000 contracts the prior week and following late-week liquidation in wheat and soy, AgResource estimates current managed fund length at just 381,000 contracts – the…
Heat & Dryness Persist Across Central US; Odds of Pattern Change Low into July: The major forecasting models are consistent with prior output and widespread/substantial soil moisture loss continues throughout the next 10 days. Ensemble models hint at better rainfall across the Eastern Midwest June 23-25, but confidence in this outlook is low. Extended-range accuracy…
