Excerpt from the note that went out to Weather Trends clients yesterday (Monday) morning:
In light of the softer market regarding futures prices, extreme heat across the corn belt this week should add some strength to the sector with widespread warmer temperatures and a drier pattern in the southern belt for several days potentially limiting yields. [...]
April resulted in no significant weather improvements across the North China Plain, as a lack of sustained precipitation will affect the current crop more than many analysts currently appreciate. The dry pattern already has limited winter wheat crops, and looking ahead, there will likely be limitations in yields for the coming season as planting and [...]
The USDA/NASS Crop Progress report issued yesterday afternoon underscored the note that we had put out to clients the previous week. US corn planting is still significantly behind the pace set last year. As of May 1, the 18 major growing states have 13% of the intended crop in the ground, vs. 66% for the [...]
US corn is getting off to a slower start compared to last year; the table above from yesterday’s USDA NASS Crop Progress report shows that planting progress as of April 17th was at 7%, vs. 16% this time last year. The current week will not help much, but we are looking at better conditions for [...]
Overnight activity has the grain/oilseed complex opening on a lower note, with wheat leading the way. Northeast China has received rainfall over the last few days, bringing some relief to the provinces that have been affected by the recent drought in the region (particularly Shandong and Henan provinces). While the rains have eased some of [...]
Author: Michael Ferrari, PhD
VP, Applied Technology & Research
Tight stocks in the US cotton market coupled with a heightened awareness of potential weather risks due to La Nina at the start of 2011 signal incereased volatility for traders and manufacturers in the months ahead. We talked about some of the effects on commercial agriculture stemming from [...]
