Last week’s lower max temperatures combined with cooler evening temperatures resulted in a light week for US cooling demand. The US population weighted number for the week ending 16 Aug was 54 CDDs, which is -15 vs. normal and -33 vs. last year (same week). More important than the overall US number is the regional [...]
OCT08 (ICE) world sugar has traded in a tighter range this week, and activity through Wednesday looks to support more of this rangebound pattern. Brazil’s sugar production is behind last year’s pace for early August, but we do not have any serious concerns for the Centre-South crop, and the gap should be closed by the [...]
A combination of cooler weather in the central and eastern combined with weaker fundamentals including overall demand destruction continue to exert downward pressure on energy prices last week (September Crude/NG), and this bearish market sentiment carried over into Monday and Tuesday’s trading on NYMEX, before the inventory report moved the market back up a bit [...]
OCT08 sugar (ICE) inched a little higher in Tuesday’s session, and even higher on Wednesday, following Monday’s drop from a high of 14.4. The global supply situation is starting to look like it may develop into an issue this crop year as the weather in Brazil and India may start to cut into the crop [...]
This chart show how the Weather Trends India country-wide rainfall forecast for the past three months has verified. The bars are the year over year (2008 vs. 2007) forecasted change in weekly precipitation totals (mm) and the line represents the observed totals. This forecast which was made during the summer of 2007 verified with 84.6% accuracy. While this [...]
This week’s pattern across many of the primary US demand centers is moderately bearish, as most of the heat will be restricted to the Southern Plains and the southwest. Evening temperatures in eastern cities have been pleasant, reducing nighttime cooling requirements across demand centers from Boston through Washington DC. As the ridge in the southwest [...]
