Climate Impact Report: Argentina drought surging, Western U.S. short and long-term drought fading.
An update on global soil moisture trends and a 3-month outlook.
An update on global soil moisture trends and a 3-month outlook.
Models Hint at Pattern Change with Improving Rain for Argentina and dryness to expand Northern Brazil harvest: The South American forecast is mixed. Drought deepens across the core of Argentina’s crop belt into Jan 18th, but there’s broad agreement that a more expansive pattern of rain thereafter. The attached graphic shows 1-10 day (top) and…
AgResource Farm Marketing Advice for Tuesday: 1/ Wheat Producers: Sell another 20% of the 2022 wheat crop if March Chi wheat reaches $8.79. If filled, 2022 sales will be pushed to 60%. The Federal Reserve’s monthly Consumer Credit report confirmed another month of historic growth. The US middle class has been squeezed for months by…
European Rapeseed Oil Market Unmoved by Competing Markets: The EU rapeseed oil market has fallen to fresh multi-month lows since early December and so far the market there has been unfazed by the addition of modest premium into Malaysian palm oil and Chicago soybean oil markets. The EU rapeseed oil market has also ignored recent…
ARC estimates 2023/24 US winter wheat seeding at 35.1 Mil Acres, up 1.83 Mil year-over-year and up 300,000 from our previous estimate in late November. RMA insurance enrollment data is cited, with total winter wheat acres enrolled in RMA programs up a sizable 2.2 Mil from last year. The correlation is decent but not perfect,…
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