AgResource Pre Opening Sunday CBOT Calls Are; Soybeans 4-6 cents higher, corn and wheat 2-4 cents higher. Weekend Weather and CBOT Market Discussion: Opening week CBOT calls are higher. Adverse weather and the hefty premiums of the Midwest cash markets are the drivers of the CBT heading into 1st notice day on Friday. The forecasts…
The Evaporative Demand Drought Index (EDDI): A Brief Overview and Discussion Predicting the onset, severity, and duration of drought remains a challenge due to the number of interconnected variables that contribute to drought evolution and recovery (e.g., soil moisture, soil type, vegetation, land-use, topography, antecedent vegetative state/stress levels, and atmospheric circulation). The interactions among these…
Fig. 1: Current NOAA Evaporative Demand Drought Index (EDDI) analysis across the U.S. and annotated changes since April 1st. Discussion: Soil moisture will have some influence on the U.S. summertime thermal regime whereas large dry soil regions and regions that are also trending drier have a tendency to be hotter than normal whereas large areas…
CRB Index The CBR/CCI index closed higher but were not able to score new 2021 highs. The next upside price target being the February highs at 196. A push above the 2021 February high will unleash new fund demand amid a sliding US dollar. The US dollar closed lower for the 3nd consecutive week…
AgResource Farm Marketing Fills for Friday: 1/ Soybean Producers: Accepted profits on Long May soybean futures at $15.47 for a gain of $4.61/Bu on 40% of the 2020 soybean crop. This raised our 2020 sales price to $12.42/Bu with 20% of the cash crop left to market. AgResource Farm Marketing Advice for Monday: 1/ Corn…
