Charts of the day: Wet to dry Argentina next 10 days. Discussion: A slow-moving upper trough produces a heavy rain risk across Argentina over the next 5 days. All models are wet (but likely too wet). In the 6-10 -day period high-pressure ridging returns as Argentina goes dry. Week-2 Ahead Forecast valid April 26-May 2,…
Charts of the day: Evaporative Demand Drought Index update. Discussion: Utilizing the new NOAA Evaporative Demand Drought Index (EDDI) yields distinctive drought regions in northern California, the Southwest U.S., northern Great Plains, Ohio Valley/Great Lakes region, southern Alabama and Florida. The 90-day EDDI trend is DRIER across the Southwest and much of the northern states.…
AgResource Farm Marketing Advice for Tuesday: 1/ No new advice. 6:30 AM CT CBT Prices: May soybeans are up 22.50 cents at $14.7225, May corn is up 7.00 cents at $5.99 while May Chi wheat is up 5.75 cents at $6.58. AgResource Morning Grain/Soy Comment & Analysis: Good Morning! May soybeans and December corn futures…
AgResource Farm Marketing Advice for Tuesday: 1/ No new advice. Index fund money continues to pour into the raw material space as Friday’s CoT report showed that the number of contracts controlled by these long only funds is nearing 1 Mil contracts. This is up 61% from the lows set in October of 2019. The…
US Stays Cold into April 26; Models Agree on Expanding Warmth Thereafter: The EU & GFS are in broad agreement that abnormally cold temps will hold across the Central US into next week. The attached graphic displays the EU model’s 10-day percent of normal growing degree day forecast. Central US row crop emergence will be…
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