Discussion: Wow! Look at the warm-up in the subsurface equatorial Pacific Ocean (Fig. 1) during April! Amazingly, some borderline La Nina SSTA hang-on in the Nino regions (Fig. 2). ENSO is in neutral phase according to ENSO-expert Australia Bureau of Meteorology. The outlook indicates neutral phase for mid-year but confidence for the last 1/3 of…
Summary: Brazil shipped 3.80 MMT of soybeans this past week. Argentine soybean exports were 98,000 MT. US export inspections are estimated to be 200,000 MT. The ship lineup indicates that a record 15.60 MMT was shipped for the month of April. Official SESEX trade data could be released later today. In the Apr WASDE, the USDA raised…
Highlight: April Precipitation And 15-Day Outlooks. U.S. Corn Belt wet weather ahead. Stormy/wet week Europe to Western Russia followed by warmer/drier reversal next week. Fig. 1-2: U.S. 30-day percent of normal precipitation and GFS ENS 15-day rainfall anomaly forecast. United States: April 2021 was a dry month across the spring wheat zone in the northern…
Highlight: Not as cool as yesterday’s forecast. Charts of the day: Much cooler later this week in the East. Discussion: After a warm-to-hot start in the East this week followed by a round of severe thunderstorms a much cooler regime settles in for THU/FRI featuring mid-afternoon temperatures 10-20F below normal. Medium-range 6-10 Day Forecast Valid…
AgResource Farm Marketing Advice for Monday: 1/ No new advice. 6:30 AM CT CBT Prices: July soybeans are up 9.00 cents at $15.43, July corn is up 12.75 cents at $6.86 while July Chi wheat is up 6.00 cents at $7.4075. AgResource Morning Grain/Soy Comment & Analysis: Good Morning! CBOT futures opened the week sharply…
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