Drought Stays Intact Across Southwest, Southern Plains; Normal Winter Climate Offered to Midwest: NOAA’s updated Jan-March US climate outlook features sustained warmth/dryness across the Southern US, with normal temps and above normal precip probable across the Pacific Northwest and Great Lakes Region. NOAA’s associated drought outlook is little changed. Drought expansion is offered to TX…
CBT SoyOil Forms Bottom; Renewable Diesel Capacity Expansion On Track: Spot CBT soy oil possibly formed its seasonal bottom with NOPA oil stocks well below expectations at 1.83 Bil Lbs. The details surrounding US renewable diesel production remain murky, but a flurry of new plant capacity has been announced this week. Greater US soyoil disappearance…
The duration of this pattern of warmth and dryness must be watched closely. The CFS model’s updated 30-day precip anomaly forecast is attached. Drought in southern Brazil will deepen, while abnormal dryness will be established in Argentina by early January. Confidence in the details of long-range forecasts is low, but the CFS model as of…
Cash Wheat Markets Recover; Flurry of Importer Demand Due this Week: Cash wheat fob offers in the US, Europe and Australia have followed futures higher this week, with spot Russian wheat is quoted at $340/MT, unchanged from Friday. Pricing Russian wheat will be rather difficult moving forward as the export tax there nears $100/MT and…
Abnormal Warmth Returns to Central US: A rather warm temp profile will be established across the Plains, Midwest, and Delta into Dec 20th, with max high temps in TX, OK, KS and the Southern Midwest to exist in the 60s, 70s and 80s. Moderate to heavy rain/snow will impact the N Midwest and Southeast over…
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