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Midday Update

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Special Frost Update

·        There was a lot of talk this past week about risk of a frost in the northwestern Midwest. The expectation was that we would see readings, primarily in the 32 to 35°F range focus on southeastern Minnesota and surrounding areas, southwestern Iowa and portions of southern Nebraska and northern Kansas.

·         Overnight readings were pretty much as expected overnight; perhaps leaning a bit to the warmer side than expected.

·         We do know that some low-lying areas saw cool air pool, creating more opportunity for the cold to penetrate the crop canopy in those areas.

·      Overall, the initial assessment is that losses are as expected overall and should have insufficient impact on USDA’s supply and demand balance sheet to significantly alter market sentiment.

·         We should know more over the coming week as crops respond to this weekend’s weather, but at this point we see little to change our assessment of the frost event.

·         Below is a NOAA graphic of overnight low readings in the area expected to see the coldest readings this morning.

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All opinions expressed in this commentary are solely those of Water Street Advisory. This data and these comments are provided for information purposes only and are not intended to be used for specific trading strategies. Although all information is believed to be reliable, we cannot guarantee its accuracy or completeness. There is significant risk of loss involved in commodity futures and options trading and may not be suitable for all investors.

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<![if !vml]><![endif]>Arlan Suderman | Senior Market Analyst
WATER STREET ADVISORY® | www.waterstreet.org
(316) 729-4599 | asuderman@waterstreet.org

 

Past performance is not indicative of future results. The information contained in this report is intended for informational purposes only and is the opinion of the writer and may change at any time. This information was compiled from sources believed to be reliable but accuracy cannot be and is not guaranteed. There is no warranty, expressed or implied, in regards to this information for any particular purpose. There is SIGNIFICANT RISK involved in trading futures and or options on futures and may not be suitable for all investors. Investors should consider these RISKS and evaluate their suitability based on their financial conditions. No one should ever consider trading futures or options on futures with anything other than RISK CAPITAL. This information is provided freely and is NOT in the capacity of a trading advisor. NO LIABILITY on the part of the author exists for any trading loss you may incur in the use of this information. Information provided is not to be construed as an offer to sell or solicitation to buy any commodity or security named herein.

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