AgResource Farm Marketing Advice for Monday: 1/ No new advice. 6:30 AM CBOT Prices: May soybeans are up 13.00 cents at $14.1725, May corn is up .50 cents at $5.48 while May Chi wheat is up 4.00 cents at $6.6425. AgResource AM CBOT Comment & Analysis: Good Morning! CBOT futures are higher on Monday morning…
Highlight: Continue to project worsening Argentina drought. Fig. 1-3: South America most likely rainfall pattern according to mega-cluster ensemble for days 1-15 ahead. South America discussion: Drought conditions are present across Central to Southeast Brazil and are evolving in Central to Northeast Argentina. The “most likely” precipitation patterns over the next 15 days indicate beneficial…
Summary: This past week Brazil shipped 105,000 MT of corn. Argentine exports were 213,000 MT. Ukraine shipped 435,000 MT. US exports are estimated to have been 1.25 -1.75 MMT. As of Feb 26, Brazil’s total corn export “commitments” for the local marketing year were 35.44 MMT vs 38.53 MMT last year. Commitments have accounted for 99.8% of…
Highlight: Hot weather this week across Western Australia. Charts of the day: The 7-day forecast. Discussion: The week ahead is hot across Western Australia while the southeast Australia crop areas are cooler than normal. The dry forecasts from last week remains consistent for the week ahead except for heavy rain into southwest continent. Week-2 Ahead…
Highlight: Brazil hanging on to their drought but models continue to insist the drought-supporting climate shifts south to Argentina in March. Fig. 1-2: Current South America soil moisture and last week’s percent of normal rainfall. South America now: Another late season drought to raise havoc with Brazil soybeans, Brazil safrinha and Argentina soybeans. Currently, NOAA/CPC…
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