ARC’s works suggests that the USDA on March 31 will reveal additional tightening of physical US corn supplies. Corn price action on March 31st mostly comes to down to quarterly corn feed/residual disappearance. It’s the US March corn stocks that historically causes anxiety for traders/producers. Forecasting quarterly US corn stocks has been difficult since 2019.…
Hogs Close Firm in Late Week Trade: April hog futures gapped sharply higher at the open on Friday, following Thursday’s $6 gain in the cutout. Profit-taking ahead of the weekend brought the market back to unchanged by the end of the day, while June hog futures found support against $100. The cash index rose $.68…
CBOT ag futures are mixed at midday with corn/soy futures sharply higher with wheat sagging on active corn/wheat spreading. China booked another 800,000 MTs of US corn taking their weekly purchase pace to and unexpectedly large 4.00 MMTs (157 Mil Bu). Soy futures have rallied strongly following corn on tightening domestic supplies amid a lack…
Charts of the day: A reminder, the Q2 of 2021 U.S. climate outlook. Discussion: Issued earlier this month the Climate Impact Company constructed analog forecast for quarter 2 of 2021 indicates an early start for summertime heat across the Southwest U.S. which extends to the central Great Plains and Texas (and eastward) at times. A…
Highlight: U.S. reverses drier after 10 days. Argentina trend is drier. Short-term significant precipitation Black Sea region. Excessive rains in East Australia. Fig. 1-2: The ECM 10-day precipitation amount forecast and the week-2/week-3 precipitation anomaly projection also by ECMWF. U.S. discussion: The stormy pattern raising soil moisture in parts of the Great Plains, Mid-south and…
