AgResource Ag Investment Trades
Corn Soars To New Contract High with May Nearing $6.00/Bu; Parana Brazilian Corn Ratings Decline on Acute Dryness; C IL Corn/Soybean Basis Strong
Midday CBT grain & soy futures are sharply higher with corn/wheat pacing the advance on tightening US domestic supplies amid adverse weather. Brazil’s winter corn crop is being hit with a flash drought while cold/dry weather limits seeding across the N Plains/Canadian Prairies. Funds and speculators have been active buyers on the rally. Wheat futures…
US Ethanol Production and Stocks Slip. Gasoline Consumption up 78% from Year Ago.
Summary: US ethanol production was down slightly this past week. Ethanol stocks were down 0.6%. Gasoline consumption rose this week and is up 78% from a year ago. Futures-based ethanol producer margins on Apr 12 were -16.55 cents/gln, down 16.20 cents from the previous week. Blender margins were 0.65 cents/gln, up 0.09 cents from the previous week. Brazilian…
Another hot summer, drought advances into the Great Plains. East/Southeast States are wet.
Highlight: Another hot summer, drought advances into the Great Plains. East/Southeast States are wet. Executive Summary: The Climate Impact Company Summer 2021 climate forecast is updated. The FINAL version will be issued in early May. The forecast is based on a regional SSTA/U.S. soil moisture-based constructed analog. The outlook is very similar to previous outlooks…
