Slightly lower are CBT futures at midday in thinning volume. Corn, soybean, and wheat futures have pressed the downside on nonthreatening Central US weather forecasts. The 2021 US corn, soybean and winter wheat crops are off to a solid start with spring seeding progressing on a timely basis amid a lack of extreme heat. And…
Neutral ENSO continues; monitoring the warming subsurface. Discussion: Neutral ENSO appears in the Nino SSTA regions for the middle of May (Fig. 1). In the sub-surface, warming spreads from the Dateline to northwest coast of South America (Fig. 2). Normally, this subsurface signature – if persistent – would trigger an El Nino development risk. Forecast…
Summary: Brazil shipped 3.53 MMT of soybeans this past week. The ship lineup indicates that 15.33 MMT could be shipped in May. That’s less than last week’s estimate because 1.33 MMT was rolled-over to be shipped in June. The ship lineup has dropped sharply in recent weeks. For the first time this season, export “commitments” (shipments…
Fig. 1: Current weather satellite view of Australia. Discussion: A cold front has moved across Western Australia bringing attendant rain showers (Fig. 1). Amounts are generally light except moderate in the vicinity of Adelaide. The incoming frontal system will deliver some much-needed rain to Southeast Australia over the next 30+ hours. GFS indicates 0.50 to…
Chart of the day: Beginning of wet weather return to Mid-Atlantic? Discussion: The Mid-Atlantic spring has been mostly dry. However, 15-day forecasts indicate increasing risk of wet weather mostly in the medium-range. Climate forecasts are also wet for summer ahead. Medium-range 6-10 Day Forecast Valid May 29-June 2, 2021 Medium-range 11-15 Day Forecast Valid June…
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