Private Client: Trade
Buy 2 December’22 corn at $4.82, stops on a close below $4.39.
Europe/Russia Week 2-4 Outlook: Black Sea region and eastward is dry and hot.
Charts of the day: >95F risk in the medium-range. Discussion: The >95F risk is in the Caspian Sea region during the medium-range. The outlook represents extreme heat risk for this region. Week-2 Ahead Forecast valid May 24-30, 2021: Southwest Russia heat/dryness. Discussion: The hot/dry pattern in Southwest Russia and east of the Caspian Sea…
South America Week 2-4 Outlook: Wet weather possible late month across Southeast Brazil.
Chart of the day: The southwest/southeast drought zone remains intense. Discussion: Daily NOAA/CPC drought analysis yields extreme dry conditions across south and southeast Brazil. Week-2 Ahead Forecast valid May 24-30, 2021: Chance of some rain in Brazil. Discussion: A cold front (or two) reaches Southeast Brazil and could trigger some much-needed rainfall although not a…
China’s Soybean Crush Margins Recovering But Still Unprofitable.
Summary: As of May 14, China’s “spot” soybean crushing margin is -61 Yuan/MT, up 309 Yuan from a week ago. The “forward” margin is -256 yuan/MT, up 162 Yuan from a week ago. However, the forward margin is 188 Yuan below what it was a year ago. Domestic soyoil’s price jumped 5.4% in the past week. Domestic…
CBT Morning Rally Retreats on Massive Fund Liquidation in July Corn; US Coast Guard Reopens the Miss River; Midday GFS Drier for N Plains/NW Midwest
The US Coast Guard has reopened the Mississippi River with traffic trying to return to normal. The 1.5-day closure will have a limited impact on the US grain export industry. The I-40 bridge is seen as stable without a load factor and normal river navigation is resuming. CBOT futures are sharply mixed at midday with…
