Fig. 1-3: The NOAA/SPC severe weather areas projected for tomorrow and Wednesday and ECM 120-hour rainfall forecast for the Southeast U.S. Short-term high impact weather discussion: Today’s primary feature is an evolving late season snow storm across Idaho/Montana/Wyoming while to the east, warm southwest wind pushes temperatures near or past 80F. By tomorrow a widening…
Highlight: East-central U.S. trends wetter. Fig. 1-2: ECMWF OP day 1-10 precipitation forecast and day 1-5 temperature anomaly outlook. U.S. rainfall discussion: Periodic significant rainfall affects the eastern half of the U.S. over the next 10 days according to ECM (Fig. 1). The forecast is wetter in the Upper Midwest to Mid-south U.S. compared to…
AgResource Pre Opening Sunday CBOT Calls Are; Soybeans 1 cent lower to 3 cents higher, corn and wheat 1 cent lower to 2 cents higher. Weekend Weather and CBOT Market Discussion: Happy Easter! Opening week CBOT calls are mixed. Thursday’s sharply lower close in old crop futures is expected to produce some initial selling pressure,…
CRB Index The CBR/CCI index edged lower on the week with losses in metals and energy futures. The ag markets closed mixed with rallies in CBOT summer row crops while the wheat market declined. Cattle closed lower while CME pork futures rallied to new contract highs. End of the quarter/month liquidation along with a rising…
Summary: Next week’s soybean export inspections could be 235,000 MT (8.4 Mil Bu). That would be down 45% from this past week and the smallest since June 2016. This week’s ship lineup is 160,000 MT. That is above the previous week’s “ZERO” lineup. There were 26 vessels to-be-nominated (TBN). That is down from the previous week. This…
