CBOT soybean/corn futures are sharply higher at midday with wheat values mixed on active fund demand and rising world fob markets. The fast approaching USDA January Crop report amid diminished South American crop potential has soy futures pacing today’s gain. Investors are adding to net long positions across the CBOT, but their buying is expected…
GLAAM Index Goes Strong Negative = Stormy Pattern U.S. snow cover to expand December 2020 global soil moisture anomalies and 3-month trend is updated South America medium-range precipitation forecasts are wet-biased. But! Wetter ARG and BRZ day 8-14 forecasts are preferred. Fig. 1: The global atmospheric angular momentum slows down in January which indicates increasing…
Highlight: Very warm days 6-10 ahead of a colder regime in the extended-range focused on the Northern U.S. Charts of the day: What’s the likely upper air pattern in 15 days? Discussion: In 15 days the mega-cluster ensemble two most likely projections of the upper air pattern project a polar vortex pattern over South-central Canada.…
AgResource Farm Marketing Advice for Wednesday: 1/ Wheat Producers: Exit 25% of 2021 wheat hedges basis July Chi futures at $5.86. 6:30 AM CBOT Prices: March soybeans are up 26.00 cents to $13.73, Mar corn is up 6.75 cents at $4.985 while March Chi wheat is up…
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