Highlight: La Nina looks stronger again. Brazil should trend wetter. Argentina soybeans look very dry. Charts of the day: Last week’s rainfall and daily soil moisture anomalies. Discussion: According to NOAA, last week brought well below normal rainfall to soybean areas in both Argentina and Brazil. Soil moisture remains much below normal across much of…
CRB Index The CBR/CCI index closed higher as spot WTI crude surged near $60 resistance. CBOT grain markets closed mixed after a wild week of post USDA trade. ARC Research sees no evidence of a CRB/CCI top with June/July being the target for seasonal and annual highs. The chart-based upside price target is 250 as…
40 of 48 States Affected By Hazardous Weather Starting The Weekend Fig. 1: Current NOAA/NWS weather watch, warning and advisories. The Climate Cause: A massive arctic air reservoir caused by several stratospheric warming events set-up early-to-mid-winter across Russia. To compensate for that massive chill in the northern latitudes, Canada was unusually mild in December and…
AgResource Farm Marketing Advice for Tuesday: 1/ No new advice. Managed money added 29,000 contracts of new net length in agricultural futures in the past week. The biggest speculative gains were in corn (up 14,000) and soybeans (up 16,000 contracts). Net long soyoil positions reached close to a new record at 110,000 contracts. The fund…
10-Day South American Forecast Consistent; Pattern Change Hinted at for Late February: The EU & GFS remain in broad agreement on the South American climate into the end of the month. Near complete dryness and mild temps will be ongoing in Argentina. Daily showers will persist across Central and Northern Brazil, with total accumulation still…
