Correction: FI Morning Grain Comments 09/17/20

Sep 17, 2020







includes correct attachment

 

Morning. 

 

Lower
trade but don’t discount a two-sided session.  Soybeans hit a two-year high yesterday on Chinese demand.  Corn hit a 6-month high.  Wheat, nearing a 3-week low earlier this week, is seeing some fund buying.  News was light overnight.  Tunisia seeks additional
wheat. Japan bought milling wheat and Saudi Arabia seeks 540,000 tons of barley.  South Korea bought 38,300 tons of wheat.  USD was up 4 points earlier and WTI crude oil down about $0.27.
  US
equities are pointing to a lower start. 

 

 

 

Weather
and Crop Progress

 

TROPICAL
COMMENTS

  • Tropical
    Disturbance in the western Gulf of Mexico will likely become the next tropical depression and it may threaten Mexico and/or the United States during the weekend or next week
    • Most
      forecast models have the storm meandering around in the western Gulf of Mexico For days before threatening land

 

  • Tropical
    Storm Sally diminished to depression status overnight and was nearing the Alabama/central west Georgia border this morning
    • The
      storm center was 50 miles southeast of Montgomery, Alabama
    • Sally
      will move across central Georgia and into the Carolinas today and Friday while slowly diminishing further
    • Additional
      rainfall of 1.00 to 4.00 inches and locally more (to 6.00 inches) is expected which may cause localized flooding, but the storm’s greatest wind and rain have diminished enough to minimize the risk of damage

 

  • Sally
    has damaged crops and property across the western Florida Panhandle and in southern Alabama, but the assessments are incomplete and it will be a few days before the extent of the damage is known
    • Rain
      totals of 10 to more than 20 inches occurred in in the Florida Panhandle while amounts of 4.00 to 10.00 inches occurred northward into southern Alabama mostly along the Interstate 65 corridor and east to the Georgia border
      • These
        areas also experienced the strongest wind speed of 40-60 mph
      • Some
        higher wind speeds occurred near the Mobile Bay area of Alabama where speeds of 60 to 100 mph occurred as the storm came inland

 

  • Hurricane
    Paulette lost its topical characteristics over open water in the northern Atlantic Ocean Wednesday

 

  • Tropical
    Storm Vicky was expected to dissipate by Saturday over open water in the central Atlantic Ocean

 

  • Hurricane
    Teddy, however, was expected to become a Category 3 hurricane equivalent storm over open water in the central Atlantic Ocean later today and Friday before moving toward Bermuda during the weekend
    • Teddy
      may pass very near or slightly to the east of Bermuda early next week as a Category 2 storm after that the storm may threaten Nova Scotia and Newfoundland, Canada with heavy rain and high wind speeds

 

  • A
    tropical wave south southwest of the Cabo Verde Islands will move toward the Leeward Islands in the Atlantic Ocean over the next several days
    • This
      system may become a tropical depression, but there is not much support for a stronger storm as the environment it moves into this weekend becomes a little hostile for further development

 

  • Tropical
    Storm Noul is still moving toward central Vietnam, but the system is no longer advertised to reach typhoon status and that may help the system have a lower impact from central Vietnam to northeastern Thailand
    • The
      system will stay north of the key Central Highlands production region, although some rain from the storm will impact a part of coffee country without damage
    • Landfall
      is expected around 0600 GMT Friday to the north of Hue, Vietnam
      • Torrentially
        rain and flooding will accompany the storm inland
        • Crop
          damage will be low because the area impacted is not a very important rice production area

 

  • Tropical
    Disturbance well south of Hawaii has some potential to develop into a tropical cyclone over the next few days, but it will move west northwesterly and stay far to the south of the Hawaiian Islands

 

  • Tropical
    Depression Karina was dissipating over open water well to the west of Mexico today

 

 

 

OTHER
WORLD WEATHER ISSUES