US Corn Highly Competitive in World Market; Ukrainian Basis Stays Elevated: Argentine exporters continue to offer corn into the world marketplace for Dec-Feb arrival. This along with eroding interior cash prices in Brazil has sustained competition for world market share, particularly into Asia. However, US Gulf corn for Dec-Jan shipment is offered measurably below Brazilian…
La Nina to Sustain Dryness Across Southern Plains/Southwest US into 2022: NOAA’s updated Dec-Feb US climate outlook maintains abnormal warmth and dryness across the Southern and Southwestern US through February. NOAA’s associated Seasonal Drought Outlook is attached. If verified, drought/abnormal dryness will cover some 60% of the US HRW Belt. Fortunately, additional moisture relief is…
European Corn Market Follows 2020/21 Price Pattern Closely: Paris corn futures have recovered along with the US market since early autumn. So far, spot corn in Europe has mirrored the price pattern of last year (nearly exactly). Fundamentally, odds are high that corn futures in Europe will continue to follow last year’s pattern as the…
Central US Stays Cold Nov 21-Dec 1: The EU & GFS models agree that a lasting period of below normal temps will blanket much of North America beyond the weekend. The attached graphic shows minimum temps expected in the 6-10 day period, with lows in the 20s to be widespread. Similar readings are expected in…
Palm Oil Market Stays Elevated Despite Build in Stocks: Spot Malaysian palm oil on Monday settled at $1,296 per ton ($.59 per pound), just $9 per ton shy of the all-time high scored in late Ocotber. The Asian palm oil markets has been very well supported despite the 300,000 MT rise in Malaysian stocks seen…
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