Climate Impact Company has been out-of-office July 1-8 returning on July 10 for full operations. However, lets take a brief look at evolving market conditions pertaining to climate.
In the U.S. drought conditions in the North-central U.S. have emerged and will advance southward to the west/west-central Plains during summer and then eastward to the Mid-South U.S. late summer/early autumn. The Midwest U.S. corn and soybean areas are at risk of emerging dryness. However a near miss is likely as enough thunderstorm activity caused by northwest flow aloft around the back side of the northern North America polar vortex across the heart of corn and soybeans are expected.
Drought conditions are spotty and definitely not widespread in Europe. North-central Ukraine is in a borderline drought condition. The weather pattern has been too transitory to force evolving drought conditions. However, a drought watch issued by Climate Impact Company for southern Europe, Ukraine and southwest Russia remains in effect.
Climate Impact Company is forecasting harsh drought and heat for northern/northeastern China during the next 2-3 months.
In Australia drought has developed in southwest continent affecting wheat. Dryness on the southern coast of central Australia has (also) emerged. Probabilistic models indicate drought will expand into Southeast Australia during JUL/AUG/SEP…an issue CIC will update in next week’s outlook.
Climate Impact Company will update all week 2-4 forecasts and climate outlooks next week.
