Some unfavorable weather for grain at home & abroad

Brazil’s 2020/21 safrinha crop saw another frost event, which may lower yields on late-maturing corn. China’s Henan province, which produces about 10 percent of the country’s corn crop, has seen excessive flooding this week with some crop and livestock losses likely. Weather models change [...]

Weather, edible oils supply will drive soybean futures

Futures activity Soybean futures rallied last week, driven by weather concerns and impact on yield. Aug-21 soybeans closed Friday at $14.5475 per bushel, up from $14.04 on Monday. Aug-21 soybean meal closed the week at $363.20 per short ton, and Aug-21 soybean oil settled [...]

NOAA’s August outlook features northern heat

NOAA’s August outlook calls for above-average rain in the eastern Grain Belt and average rain in most other areas. Below-average rain is expected in the western Dakotas and in western Nebraska as the drought continues. Above-average temperatures are forecast across the northern region and [...]

Sugar beet farmers waiting for rain

The June USDA acreage report showed a slight decrease in sugar beet plantings compared to the March intentions report. That coupled with the lack of rain and developing drought are an equal weather concern worth paying attention to as we now head into the [...]

Dry, hot July weather expected in northwestern Belt

Much of the northwestern Grain Belt has experienced drought conditions in recent months, which are expected to continue for another few weeks, at least. As of Jun. 30, NOAA’s one-month outlook features above-average temperatures and below-average rains in the Dakotas, Minnesota, Wisconsin, Iowa, and [...]

Cocoa sees technical support at uptrend

Inflation-related volatility continues to impact commodity pricing, and cocoa is seeing recent price weakness on fund liquidation. Since their mid-May highs, cocoa futures have fallen nearly $200 per MT or nearly a tenth on position liquidation ahead of the July contract expiration. With futures [...]

Soybeans crash to five-month low

Soybean futures prices fell all last week, plummeting to a five-month low on Thursday’s sell-down to $13.29 per bushel. Continued rumors of EPA changes to biofuel mandates, a more favorable weather outlook for the Grain Belt, and a May crush report below expectations all [...]

Midwest rains expected to pick up in late June

NOAA’s two-week outlook calls for above-average rain and below-average temperatures in most of the Grain Belt, which should be favorable for developing corn and soybean crops. Expected rains have put some pressure on prices even as above-average temperatures dried out soils during the past [...]

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