Chart of the day: U.S. gas population weight HDD forecast. Discussion: The consensus of all forecast models is markedly less cold (by 15 HDD) for next week while just-the-opposite (15 HDD colder) is indicated for Feb. 12-18. The lower number next week is due to less impact on the East while the colder value for…
Highlight: Is the 2012 analog for 2021 reasonable? Fig. 1-2: The May 2012 global SSTA analysis and the ECMWF May 2021 global SSTA forecast. Discussion: In May 2012 the global SSTA was characterized by a La Nina to neutral ENSO, lingering cool phase Pacific decadal oscillation (cool waters in the Gulf of Alaska and southwest…
Highlight: Where are the drought and drought watch areas in key crop regions? Fig. 1-4: New daily NOAA/CPC continental soil moisture anomalies. National soil moisture discussion: In a surprise, the daily soil moisture anomalies across Australia for Feb. 2, 2021 identify dry-to-drought areas enhanced by below normal mid-summer precipitation across much of Queensland and Western…
AgResource Farm Marketing Advice for Thursday: 1/ No new advice. 6:30 AM CBOT Prices: Mar soybeans are up 1.00 cent to $13.7225, Mar corn is up 5.00 cents at $5.57 while March Chi wheat is down 1.00 cent at $6.4725. AgResource AM CBOT Comment & Analysis: Good Morning! CBOT corn futures have scored new contract…
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