Highlight: Brazil rains, U.S. arctic air and an EU/RU snowstorm. Fig. 1: Current soil moisture anomalies across South America. Fig. 2-4: The mega-cluster ensemble “most likely” percent of normal rainfall forecasts for South America the next 15 days. South America rainfall discussion: The upper air pattern across South America the next 15 days features an…
AgResource Pre Opening Sunday CBOT Calls Are; Soybeans 1-3 cents higher, corn steady to 1 cent higher with wheat 1-2 cents higher. Sunday Weather and CBOT Market Discussion: Opening week CBOT calls are steady to slightly higher. Rumors over the weekend include Argentina getting ready to raise/apply export taxes while Russian exporters rush grain out…
Commodity Index The CBR/CCI index closed higher for the week in another back-and-forth trade. Grains were able to hold their gains while the energy market closed at new 2021 high. WTI Crude oil futures rallied to new highs at $57.00 with the next upside price target being $60-61.00. There is no indication of a CRB…
AgResource Farm Marketing Advice for Monday: 1/ No new advice. The CBOT rally since mid-December has been mostly based on cash connected buying. Fund positions have been little changed as the chart reflects. Fund managers heading into a new Northern Hemisphere growing season are likely to hold their net long position. Until there is evidence…
South American Forecast is Wet in N Brazil; Dry in Argentina/S Brazil; The EU & GFS models are good agreement on South American weather which raises our confidence in their solution. Seasonally heavy rainfall will persist in Mato Grosso, Goias and far Northern Brazil with cumulative rainfall totals of 5-9.00” with locally heavier amounts possible…
