Abnormal South American Spring Weather Pattern to Persist into Late October: Argentina Drought Worry is Fanned for 3rd Consecutive Year; SE Brazilian farmers fret over flooding and fertilizer losses: The attached map is from the afternoon EU weather model which shows a high pressure Ridge across North Central Brazil and a deep Low Pressure Trough…
EL Nino is rapidly building across the Equatorial Pacific; South American Summer Weather Risk; Atlantic Ocean Record Warm on October 1st: World Ocean temperatures are shockingly increasing with the Atlantic, Northwest and Central Pacific recording record warmth on October 1st. Record warm world ocean temperatures were set in March and have continued each month through…
Broadening Dryness to Cover North America; Soil Moisture Draws Deepen; Strange Weather Pattern for Strengthening El Nino: The 10 Day Precipitation Anomaly graphic offers continued loss of soil moisture for North America into mid-October. The only area of above normal precipitation is SE Canada – where a low-pressure Trough resides. Elsewhere, limited rainfall is forecast…
Below Normal Precip Continues in Black Sea; Worst of the Dryness Centered on Major Winter Wheat Producing Regions: The Black Sea forecast into mid-October keeps odds of a needed pattern shift low. Lite/moderate showers favors crop areas just north of major winter producing oblasts in Russia, while little/no rain is advertized in important areas of…
NASS’s corn stocks data was neutral/supportive fundamentally but collapsing wheat prices and weakness in macro markets weighed on futures. Final 22/23 US corn end stocks were 1,361 Mil Bu, 91 Mil below USDA’s estimate in early September. Jun-Aug feed/residual use was 696 Mil Bu, some 70 Mil above trade expectations. The US corn balance sheet…
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