Close attention will be paid to changes in the extended forecast over the weekend. The duration and location of high pressure aloft will be a focal point. But ARC’s work suggests that the odds of a Midwest drought into mid-summer are lower than normal. Certainly, major crop stress in the next 7-10 days will be…
Global Veg Prices March Higher: Vegetable oil markets have been a bullish stalwart in the world ag space. Restaurant demand remains much lower than in 2019, but pockets of Europe and the US are seeing a surge in dining traffic. The USDA in its May report also projected combined global veg oil stocks to fall…
Drought Development Ongoing in W Europe; Above Normal Rainfall for the Black Sea: The European climate into the middle of June is stuck. On the margin, needed precip will move a bit westward. But otherwise continued soil moisture loss will persist in the UK and key parts of France/Germany. Soil moisture boosts will be widespread…
Russia’s Interior Wheat Market Begins to Relax; Flour Prices to be Watched Closely Next 60 Days: Russia’s domestic wheat has weakened slightly in recent weeks as the global cash market transitions entirely to the 2020/21 campaign. It’s likely that Russia’s interior wheat market has found a seasonal high. The coming harvest will weigh on prices…
Argentine Corn Discount to US Widens: Corn basis at the US Gulf has rallied from $.50/Bu over CBOT futures in late April to $.70 over on Friday. Argentine basis in the last 30 days has weakened as crop potential was stabilized at 50 MMTs and as harvest has advanced more rapidly than in recent years.…
Contact
submission
You have successfully added an item to your cart! You may view the contents of your cart and proceed with checkout, or continue shopping.
Multiuser
subscription
How many users would you like to add?
