Week-2 Ahead Forecast valid May 3-9, 2021: Cooler, on the wet side. Discussion: The MJO is forceful in early May supportive of a cool trough back into the Central U.S. However, toward the week-2 ahead forecast the cool risk should fade as MJO weakens. GFS ENS maintains wet risk for most of the U.S. except…
CBT corn, soyoil and wheat futures are limit up at midday with soybean/soymeal futures sharply higher and in tow. The volume of trade has been active as the market pushes to aggressively ration demand amid rising basis bids that are producing only limited cash movement. Central Illinois corn is said to be bid at 35-40…
Highlight: Monitoring Asia Drought Risk. Fig. 1: The NOAA/CPC daily soil moisture analysis across Asia into Indonesia identifies three drought areas: Northeast Asia, southeast China and North-central India. The drought areas mentioned are generally steady in intensity in April. The wet zones across Interior China are weakening. The dry-to-drought zone in the India wheat zone…
Highlight: Cooler Central U.S. in extended-range. Charts of the day: MJO forces cooler 11-15 day forecast. Discussion: The latest MJO forecast reveals continued significant intensity as the MJO shifts toward the equatorial Atlantic in early May. Presence of the MJO in the Atlantic tropics during May favors returning cool weather to the U.S. climate pattern…
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