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Overnight Highlights |
US Dollar Index daily continuation chart: |
Commodity Weather Group Forecast |
In the U.S., showers scattered across the South, favoring parts of western LA, northwest MS, southeast AR, central/ southwest TN, southern KY, central/northeast AL, eastern GA, central SC, and NC. A few showers linger in the Southeast today, but the only other interruptions to seeding will be from light scattered showers in the eastern Midwest tonight/tomorrow and this weekend. Otherwise, seeding progress accelerates by later this week in the Midwest/Delta, allowing for some additional notable advances in most areas. Seeding interruptions return after the weekend, with intermittent rain chances through the 6 to 15 day. The pattern does not appear excessively wet, but SD, NE, KS, MO, IA, AR, and LA are at risk for the most frequent rainfall. Warming temperatures will aid newly seeded crops. With the exception of the southwest 1/4 of the Plains hard red winter wheat, additional showers occur early in the 6 to 10 day and again in the 11 to 15 day as well to maintain favorable yield potential. Soil moisture is improving with current showers in the Southeast corn/wheat, but rain chances are more limited for dry wheat areas in WA/OR later this week. Late spring wheat seeding will slow at times in the 6 to 15 day for MT/SD/MN, but warm weather will aid progress in much of the N. Plains/Canadian Prairies. In South America, Argentina was dry yesterday, and dry weather will continue to aid harvest this week. Showers arrive in the south on Friday and expand in the west this week-end, slowing harvest in Buenos Aires and Cordoba. Showers become isolated next week, allowing harvest to pick up and keeping damage minimal from these showers. Brazil was dry yesterday and will remain so until Friday, aiding late soy harvest in the south. Rains cover the southwest 1/3 of the corn belt next weekend and expand early next week. The northeast 1/3 will continue to see moisture stress in the next 10 days. |
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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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