European Corn Market Working to Encourage Imports; Extreme Supply Tightness Certain: New crop Paris corn futures have rallied to $9.15/Bu. Any selling in Europe has been far less intense than that seen in Chicago. The market was hopeful that the pace of Ukrainian shipments would improve at least slightly during the summer months, but this…
European Dryness Expands; Stagnant Warmth/Dryness Returns to France & Germany: In the last 30 days, drought has worsened in western/southern France and expanded eastward into Spain and Germany. Current soil moisture ranking percentiles are displayed below, and most concerning is the lack of subsoil moisture available to corn and wheat plants in France and across…
The climate forecasts have been consistent in offering a lasting shift to heat/dryness in the last half of June. Initially, this will be welcomed and crop growth will be accelerated following abnormally cool temps in late May/early June. It’s the duration of this pattern that must be monitored. The EU, GFS and Canadian models agree…
EU Weather Pattern Worrisome; Stagnant Heat/Dryness Forecast into July: It remains that spotty rains will aid portions of France & Germany over the next 72 hours, with totals of .2-.7” probable. Coverage will be spotty but for many regions this will the best chance of rain since April. However, abnormal warmth and dryness resume quickly…
No Sign of Sustained Bear Trend in Global Vegoil Markets; Crush Margins Profitable Worldwide: There’s been in a noticeable discount between global ag cash and futures market, which is evident in US corn and is more noticeable in global vegoil markets. Rapeseed/canola futures in Europe/Canada have fallen sharply amid hope for the proposed Ukrainian export…
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