Summary: As of Apr 16, China’s “spot” soybean crushing margin is -30 Yuan/MT, up 199 Yuan from a week ago. The “forward” margin is -138 yuan/MT, up 159 Yuan. The forward margin is also 121 Yuan below what it was a year ago. Domestic soyoil’s price jumped 7.6% in the past week. Domestic soymeal price rose 1.8%.…
Midday CBT futures are mixed at midday with profit taking occurring on the early rally. The sag has been in wheat/corn futures while the complex has taken over the bullish leadership roll with soy products rising sharp daily gains on the prospect of diminished US crush rates. US soybean processors are having trouble replacing inventory,…
Chart of the day: MJO-induced wet 10-day outlook. Discussion: The convection phase of the Madden Julian oscillation is forecast to shift east of the Dateline in the equatorial Pacific Ocean and enhance wet weather risk in the 10-day forecast (especially days 6-10). Areas needing the rain most are likely to receive limited amount (northeast and…
Chart of the day: Europe/Western Russia soil moisture anomalies. Discussion: Recently, drier climate has been reflected in drier soil moisture trend across Western Europe. Increasing and persistent rainfall has caused wet soils in Southeast Europe while previous Ukraine to Southwest/South Russia dry soils have eased or ended. Week-2 Ahead Forecast valid April 26-May 2, 2021:…
Executive Summary: The Climate Impact Company month 1-3 ahead forecast for South America valid for May through July 2021 is updated. The forecast is based on neutral ENSO in the equatorial East Pacific and influence of regionally warm SSTA either side of the southern half of South America. The Atlantic meridional mode is in transition…
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