Summary: As of Apr 22, undelivered US export sales to China are estimated to be 13.5 MMT. However, USDA seems to expect that the US will export just 8.4 MMT to China over the next 5 months. This implies that USDA may be expecting China to cancel or roll-over 4.5-5.5 MMT (175-215 MBU) of US…
Highlight: Bold Ontario/Quebec upper trough cools the outlook. Chart of the day: Upper air pattern suppresses warm risk. Discussion: The evolving upper trough over Southeast Canada is impressive and lasts into mid-May. The Pacific to U.S. to Atlantic jet stream is stronger than normal and forces any anomalous warm risk south of its axis. The…
Chart of the day: Soil moisture anomaly analysis. Discussion: The Europe/Western Russia/Black Sea region daily soil moisture anomaly analysis does not reveal significant dryness in any crop areas as April closes. Patchy dry areas have emerged in France and Germany and the Baltic region. However, the Black Sea region is looking OK. Week-2 Ahead Forecast…
AgResource Farm Marketing Advice for Friday: 1/ No new advice. 6:30 AM CT CBT Prices: July soybeans are down 8.75 cents at $14.935, July corn is down 1.00 cent at $6.4725 while July Chi wheat is down 6.00 cents at $7.23. AgResource Morning Grain/Soy Comment & Analysis: Good Morning it is the last Day of…
Highlight: Brazil dryness is steady. Charts of the day: Short-term temperature/precipitation regime. Discussion: The Brazil drought region remains dry through the next 10 days and trends warmer as dry soil conditions worsen. Week-2 Ahead Forecast valid May 10-16, 2021: Brazil stays dry and very warm. Discussion: Very warm weather and continued dry as the southwest/southeast…
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