Heat Persists in Russia; Corn/Sunseed Production in a Free Fall: Black Sea corn yield potential is in retreat amid a lack of needed soaking rainfall across northern and eastern Ukraine and amid ongoing extreme heat in Southern Russia. The graphic below displays the EU model’s 10-day Black Sea temp anomaly forecast. The primary corn producing…
Canola Market Recovers: Canadian Price Working to Maintain Adequate Stocks: November canola in Canada ended sharply higher on Wednesday and is now up $20 per ton (3%) on the week. The global rapeseed/canola market has largely shrugged off recent weakness in CBT soy futures as supply and trade issues mount. Aug 1-15 rainfall across most…
Ukrainian Soil Moisture Loss Continues; Yield Potential Eroding: The attached graphic shows subsoil moisture in Ukraine as of August 1 (top) and as of July 4 (bottom). Ukraine’s primary corn production region is highlighted. Moisture loss has been steady since early summer. While a yield disaster will be avoided, rapid soil moisture loss will continue…
Global Cash Wheat Market Rallies $30 per ton in 30 Days; Wheat No Longer Feed Product: World cash wheat fob prices have soared along with US and European futures. Wheat market dynamics have changed quickly and significantly and beyond summer wheat will not be allowed to compete for elevated feed use. The market now must…
Brazilian Interior Corn Market Touches $8.50 per Bushel; Production Losses Grow: AgResource’s long-term grain and oilseed attention stays focused one exporter stocks/use as this has been the primary driver over annual price action since 2012. The market’s attention remains focused on every drop of Central US rainfall. However, the defining feature of the 21/22 marketplace…
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