AgResource Weekly Newsletter, Feb 10
Click here to read this week’s Weekly Report
ECMWF (“European model”) And ERCOT Pictures. Monday snow and FRIGID Tuesday morning!
Fig. 1: A weaker cold front shifts into central Texas Thursday night. The ECMWF indicates potential for 1-3 in. of snow tomorrow night in north-central Texas to near Dallas. The model appears to be over-doing the snow risk as temperatures are too marginal. However, some sleet or freezing rain is possible in this stretch tomorrow…
CBOT Tanks on Fund Selling and Fear of Larger Brazilian Soy Crop From CONAB Thursday AM; End User Support Limited as China Goes on Holiday
CBOT futures are sharply lower at midday with corn, soybean and wheat futures busting to the downside on long liquidation and tepid end user pricing. ARC notes that end users chased the market heading into the USDA February report and are not willing to substantially add on today’s break. Moreover, traders are fearful that CONAB…
