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US
Markets will reopen Monday night. USD was up 19 points and WTI $1.06 higher.
Another
strong rally in CBOT ags on follow through buying from a dry US & EU weather outlook, good US demand and ongoing Black Sea shipping concerns. Temperatures will considerably warm up bias the southern US over the next week. Many CBOT future contracts made multi-month
highs today. Soybean meal rallied over soybean oil from profit taking in the oil share. Spreading was very active, especially in corn with traders getting out of the July position.

 

Fund
estimates as of June 16 (net in 000)

 

Weather

 

 

A map of the united states

Description automatically generated with low confidence

 

A map of the united states

Description automatically generated with medium confidence

 

World
Weather Inc.

WEATHER
TO WATCH

  • Excessive
    rain fell overnight in northern Florida and along the southern border of Georgia resulting in flooding
    • Rain
      amounts of 2.75 to 5.93 inches occurred most often with 7.60 inches at Cherry Lake, Florida and 9.84 inches at Pensacola, Fla.
    • Other
      rain totals of 1.00 to 2.00 inches occurred from east-central Mississippi through southern Georgia with a few amounts over 3.00 inches which followed heavy rain from the previous night
      • Some
        of these areas were drier than usual earlier this week, but are now too wet
  • Additional
    waves of heavy rain will occur in the Gulf of Mexico Coast States from the middle and lower Delta to Florida and Georgia over the next week to ten days resulting in excessive moisture and flooding
    • Some
      crop damage will be possible
    • Areas
      from southeastern Mississippi to the northern Florida Peninsula will be wettest with another 4.00 to 8.00 inches possible spread out over the forecast period
  • Not
    much rain is advertised over the next ten days from eastern Iowa, southeastern Minnesota and southern Wisconsin through Illinois to Michigan, Ohio and northern Kentucky
    • The
      areas most likely to experience crop stress of significance will be in Illinois, eastern Iowa and immediate neighboring areas where soil moisture is already quite limited
  • Excessive
    rain is expected in western Alberta, Canada Sunday through Tuesday where multiple inches of rain may evolve
  • Drought
    will continue in east-central and southern Alberta, Canada through the next ten days with limited rainfall for at least the coming week
    • Production
      cuts are likely from some of the driest areas where crops are already withering and dying
  • Some
    relief from dryness is expected over the coming week in the eastern Dakotas and a part of Minnesota with next week wettest
  • West
    Texas cotton, corn and sorghum areas will be dry and very warm to occasionally hot over the next ten days
    • Extreme
      temperatures reaching 100 to 108 are expected nearly every day in a portion of the state
    • Similar
      conditions are possible in the remainder of the state impacting the Blacklands, South Texas and possibly the Coastal Bend
    • Livestock
      and unirrigated crop stress is expected
  • Ontario
    and Quebec corn, soybean and wheat areas will experience mild to warm temperatures and restricted rainfall in the coming week
    • Crop
      conditions will remain fine
  • Mexico
    rainfall will continue minimal for the next ten days
    • Drought
      is delaying the planting of many crops and stressing sugarcane, citrus rice, cotton and coffee and other crops that are already developing
    • Better
      rainfall is expected in the last days of June and especially in July
  • No
    changes in South America weather are expected over the next ten days
    • Argentina
      rainfall will be limited leaving many areas from Cordoba into La Pampa and western Buenos Aires too dry for wheat emergence and establishment
      • Favorable
        field conditions will prevail in the eastern Argentina wheat areas due to previous rain and cool temperatures conserving the moisture through low evaporation rates
    • Southern
      Brazil will continue plenty wet from southern Mato Grosso do Sul to northern and eastern Rio Grande do Sul and Parana over the next ten days
      • More
        limited rain is expected in center south crop areas while the north is left mostly dry
    • There
      is a very low risk of crop damaging cold for the next ten days in any grain, cotton, sugarcane, citrus or coffee area
  • Europe
    temperatures will be warmer than usual over the next ten days and showers and thunderstorms should occur periodically so that relief comes to dryness in northeastern France, Germany and neighboring countries.
    • Greater
      rainfall might still be welcome throughout all of northern Europe after recent weeks of limited rain
  • Unusually
    cold air in Russia’s eastern New Lands this weekend and early next week will result in late season frost and freezes that may harm a few crops
  • Russia’s
    eastern New Lands and northern Kazakhstan may receive some needed moisture next week that could improve topsoil conditions for future wheat, sunseed and other crop development
  • Tropical
    Cyclone Biparjoy moved inland over northwestern Gujarat Thursday producing more than four inches through 0300 GMT, but since then there has been much greater rainfall resulting in some flooding
    • Remnants
      of the storm will leave behind a swath of excessive rain varying from 3.00 to 8.00 inches with local totals to 12.00 inches from northern Gujarat, India and far southeastern Sindh, Pakistan through a large part of Rajasthan to Uttar Pradesh this weekend and
      early next week
    • The
      moisture will cause some flooding temporarily, but the flood water should recede quickly
    • Planting
      of many summer crops will follow the event especially since monsoonal precipitation is quite restricted and will remain that way over this coming week
  • India’s
    Monsoon will attempt to kick in late next week into the early days of July, but its rain distribution may still be somewhat erratic for a while
    • The
      moisture boost will be extremely important for the planting of summer crops
  • Thailand
    rainfall continues well below normal threatening sugarcane, rice, corn and other crops especially in the west
    • Little
      change in this anomaly is expected for a while
  • Vietnam
    rainfall has been and will continue erratic and lighter than usual raising some concern for unirrigated coffee in the nation and that concern may continue for a while
  • Indonesia,
    Malaysia and Philippines rainfall will continue sufficient to support most crop needs over the next couple of weeks, despite a more erratic rainfall pattern
  • Australia
    weather has not changed overnight with showers and drizzle occurring often near the southern coast while interior crop areas see a more limited amount of moisture
    • Winter
      crops are establishing relatively well
  • South
    Africa weather will be dry or mostly dry during the coming ten days except in the far southwestern corner of the nation where some rain is expected
  • Portions
    of the U.S. Northern Plains will get rain periodically during the next two weeks, but resulting rainfall may not be evenly distributed
    • Some
      areas of moderate rain will occur while many other areas see only light amounts
    • Follow
      up rain will be very important
    • Additional
      warm to hot and dry weather is expected briefly this weekend into early next week before the next opportunity for rain arrives
      • Extreme
        highs in the 90s to over 100 may occur briefly in South Dakota’s dry region Sunday or Monday
    • Only
      partial relief to dryness is expected and much more rain will have to occur before crop conditions improve in a more general manner
  • Washington’s
    Yakima Valley and neighboring areas of north-central Oregon will be dry for much of the next ten days leaving a big need for rain in unirrigated crop areas
    • Rainfall
      in the Snake River Valley will also be limited during the coming ten days
  • Showers
    in much of Montana and Wyoming will be good for sugarbeets, dry beans and other crops produced in the region during the next ten days
  • North
    Africa’s rainy weather pattern of the past few weeks has ended
    • Better
      crop maturation and harvest conditions will now evolve
    • Recent
      wet weather has hurt the quality of some small grains
  • West-central
    Africa rainfall has been and will continue to be quite abundant during the next ten days favoring coffee, cocoa, sugarcane and rice development
    • A
      few areas have been trending a little too wet and less rain might be welcome
    • Cotton
      areas in Burkina Faso and Mali are trending much wetter
  • East-central
    Africa rainfall continues to occur routinely and mostly supports normal rice, coffee, cocoa and sugarcane development
  • China’s
    northern Yellow River Basin and neighboring areas of Inner Mongolia are trending drier and this pattern will prevail for a while possibly leading to crop moisture stress for wheat, coarse grains and oilseeds later this summer