Charts of the day: ECM and GFS 10-day rainfall forecasts. Discussion: ECM and GFS 10-day rainfall anomaly forecasts across the U.S. The all-important North-central U.S. drought is projected to extend southeastward into the Western Corn Belt by mid-summer. The 10-day forecast supports that trend. Each model is unsure what a Gulf of Mexico tropical system…
Highlight: GFS/ECM skill scores on this week’s North-central U.S. rainfall. Fig. 1-2: GFS/ECM day 1-5 rainfall bias for the past one week across N. America. Location Rainfall June 7-10 Bismarck 0.49 Williston 1.21 Dickinson 0.71 Jamestown 1.22 Minot 0.00 Garrison 0.32 Hettinger 0.34 Table 1: NWS offices across North Dakota and this week’s rainfall through…
AgResource Farm Marketing Advice for Friday: 1/ No new advice. Today is an unusual post. The attached WASDE Balance sheet is from July of 2012. A dire Midwest drought started on Father’s Day weekend in 2012 (June 15th) that last lasted into mid-August. 2012 corn/soy crops were initially highly rated – but condition ratings fell…
Major row crop markets enter the new growing season with record low corn and soy exporter stock/use and near-record low wheat exporter stocks/use. Clients should be aware that by any fundamental measure, world grain and oilseed balance sheets are tighter than they were during the ultra-bull years of 2007-2013. And similar to 2008-2013, biofuel has…
The USDA’s adjustments to US corn supply & demand were bullish as WASDE recognizes the record pace of export sales/shipments and the return of normal driving pattern and US ethanol consumption. Old crop total consumption was lifted 150 Mil Bu. Old crop stocks were lowered a like amount. AgResource’s work strongly suggests that the risk…
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