AgResource Weekly Newsletter, Apr 18
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Models Add Rain to Kansas in 7-10 Day Period; Drought in Texas/Oklahoma and Flooding in the NC Plains Primary Concerns: The Central US forecast is wetter in KS/E OK late next week and there hints that lite/scattered showers will be allowed to expand into the driest areas of the Kansas during April 26-28th. Confidence in…
AgResource Farm Marketing Advice for Wednesday: 1/ Wheat Producers: Sell another 20% of the 2022 wheat crop if May Chi wheat reaches $8.02. If filled, 2022 sales will be pushed to 60%. Throughout the SVB banking crisis, it briefly appeared that the Fed might be close to ending its interest rate hiking spree, and the…
NOAA estimates that rainfall of 6-12” is needed to end drought in KS, NE, and the TX/OK Panhandles. Rainfall patterns across the Southern and Central Plains erode seasonally beginning in June, and so the next 30-45 days are critical as focus shifts from HRW wheat to corn/soy acreage and yield potential. And in the north,…
Assuming trend yields, ARC projects Russian wheat production in 2023 at 86 MMTs vs. USDA’s estimated 92 in 2022. EU wheat production is projected at 138 MMTs vs. 134 in 2022. Combined EU and Russian wheat supplies in 2023 will be down just 3 MMTS year-over-year and at 259 MMTs will be the second largest…
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