The corn market is holding steady despite hits to its three major demand categories, weather variability, and political uncertainty. Mar-23 corn closed a bit higher this week, although, analysts expect global corn ending stocks to fall by about 2 MMT in this week’s WASDE [...]
U.S. trade partners appear to be holding off buying 2022/23 corn: Sales were a mere 182,339 MT during the week of Sep. 15 (7.2 million bushels), well below average for the week. Outstanding sales to Japan were 854,000 MT as of Sep. 15, compared [...]
Colorado State University (CSU) meteorologists published their first preliminary extended forecast for this summer’s Atlantic hurricane season. La Niña conditions across the equatorial Pacific are seen subsiding and returning to a more neutral ENSO (El Niño Southern Oscillation) baseline, though to favor more constructive [...]
USDA lowered projected 2021/22 world palm oil stocks by 149,000 MT in the January oilseeds update. A decline in Malaysian palm oil production was the major factor in the adjustment. Production in Malaysia is now forecast at 18.7 MMT, down 1.0 MMT from the [...]
Intensified upwelling in the equatorial Pacific is bringing unusually cold sea surface temperatures, part of the cold event known as La Niña. Although the exact atmospheric mechanics are not fully understood, these colder surface temperatures are generally associated with drier growing conditions across South [...]
Futures activity Dec-21 corn futures closed last week a bit higher at just under $5.27 per bushel. Futures are inverted for the second half of 2022, with the July contract less than a cent lower than that of May and September futures about $0.26 [...]
The 2021 Prospective Plantings and Grain Stocks reports delivered plenty of surprises last week. Expectations were for planned corn acres to come in around 93.1 million acres. The result? The market was left 2 million acres short at 91.1 million acres, and prices rose [...]
After a handful of winter storms during December, the latest NOAA two-week forecast is showing a warming trend across most of the lower 48 states as we begin 2021 at least through the first half of January. This continues a trend of mostly near-normal [...]
