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Attached
are our world stocks, use and STU % graphs.

 

Yo-yo
session in grains today while soybeans stayed lower on weakness in meal and improving SA weather. SBO rallied. Egypt seeks vegetable oils on Thursday. Australian wheat quality concerns lifted spot KC and Chicago to new contract highs. There are no major US
weather risks during the balance of this month but it will remain dry across the southern Great Plains.

 

Weather

Source:
US CPC, World Weather Inc

Map

Description automatically generated

 

World
Weather Inc.

MOST
IMPORTANT WEATHER AROUND THE WORLD

  • Eastern
    Australia winter crop conditions will be in decline again for a while this week as additional rain falls through Thursday followed by periodic showers during the weekend and next week.
    • Too
      much rain too often will threaten the quality of unharvested wheat, barley and canola in New South Wales and could threaten some crops in Victoria and a few of the remaining unharvested crops in Queensland
    • The
      moisture will be very good for summer crops especially those in Queensland without irrigation
    • Improved
      livestock grazing conditions will result as well because of rain
    • Sugarcane
      improvements are expected along the Queensland coast
  • Argentina’s
    weather today is advertised a little wetter this weekend than advertised Monday
    • Two
      rain events this week one Wednesday and the other this weekend will help maintain a good outlook for grain, oilseeds and other crops
    • Recent
      warm temperatures have accelerated drying, but these two rain events should provide adequate relief to carry crops for a while
    • Next
      week looks drier biased
    • Temperatures
      will be seasonable after today
  • Central
    and northern Argentina temperatures recently were in the 80s and 90s Fahrenheit
    • High
      temperatures Monday reached over 100 in Santiago del Estero and areas to the northwest while solidly in the 90s in most of central and northern Argentina
      • An
        extreme high of 108 occurred in west-central Santiago del Estero
  • Brazil’s
    weather is still advertised to be well mixed over the next two weeks
    • However,
      month to date rainfall in southern Brazil has continued lighter than usual
    • As
      rain intensity continues lighter than usual over the next few weeks the potential for drying topsoil will rise
      • All
        that it will take for a firmer ground is a single missed or lighter than expected rain event and/or warmer temperatures
      • The
        southern part of Brazil should continue to be closely monitored even through soil moisture and crop conditions are very good
    • Wheat
      harvesting will advance well in the south
    • Late
      soybean and corn planting are advancing well
    • Citrus,
      sugarcane and coffee are rated well with little change likely for a while
  • Colombia
    and Venezuela rainfall has been lighter than usual this month
    • The
      change has helped to curb flooding and improve coffee, corn, citrus, sugarcane, rice and a host of other crops
    • Precipitation
      will be periodic, but not excessive over the next two weeks
  • Southern
    India remains plenty wet and some field are too wet
    • Rainfall
      is expected to become most concentrated on the lower east coast as time moves along, but the entire southern one-third of the nation needs drier weather to expedite summer crop maturation and improved harvest progress
    • Tropical
      disturbance expected to move along the lower east coast Thursday through Sunday will produce heavy to excessive rainfall resulting in coastal flooding
      • Commerce
        could be briefly affected
      • Property
        damage should be limited to a few rare occurrences and mostly along the lower coast
  • Central
    and northern India will experience dry weather during much of the next ten days favoring winter crop planting, establishment and early growth
  • Northern
    parts of the Malay Peninsula will receive excessive rainfall during the coming week with some areas getting 10.00 to 20.00 inches of rain by this time next week
    • Only
      a small amount of agriculture is produced in the impacted region, but rice and sugarcane will be negatively impacted
  • A
    tropical cyclone may evolve in the Bay of Bengal next week at this time that will need to be closely monitored for possible impact on Bangladesh, far eastern India and/or Myanmar
  • South
    Africa has been and will continue to experience sporadic daily showers and thunderstorms that will support summer crop planting across much of the nation over time.
    • Many
      areas still have need for significant rain today, but soil moisture should slowly improve over the next two weeks
    • Planting
      and early crop emergence and establishment should advance well as soil conditions improve
  • China’s
    weather should be relatively tranquil over the next ten days as precipitation becomes more limited and light
    • Snowfall
      in the northeast from the latest storm will end today with a few lingering bouts of snow into Wednesday
  • Europe
    weather is expected to gradually become more active as time moves along resulting in greater soil moisture
    • Winter
      crops are mostly planted and the majority are established well enough to benefit from the moisture
    • Dormancy
      and semi-dormancy has already settled into winter crops in the central and east
  • North
    Africa will get some welcome rainfall over the next ten days improving topsoil moisture for winter wheat and barley planting
  • Turkey
    and Greece rainfall is expected to increase during the next ten days
    • Some
      western Turkey and Greece areas have been quite dry this month
  • West-central
    Africa rainfall should occur most often near the coast allowing interior coffee, cotton, rice, cocoa and sugarcane to mature favorably
    • Cameroon
      and coastal areas from Nigeria to Ivory Coast will receive rain periodically
  • Russia,
    Ukraine, the Baltic States and Belarus (the western CIS) will experience more frequent rain over the next ten days resulting in a moisture boost which will be welcome in the spring
    • The
      precipitation will occur as snow and rain
    • Some
      snow melt is expected in areas near the Ukraine border
  • U.S.
    crop weather Monday was generally dry biased and temperatures were cooler than usual in the Midwest and warmer than usual in the northwestern and west-central Plains as well as the southwestern states
  • U.S.
    weather outlook will be a little tranquil for a while
    • Limited
      precipitation potential remains for hard red winter wheat production areas
      • Any
        precipitation that falls will not likely impact the driest areas leaving them quite dry
        • The
          Texas Panhandle into eastern Colorado have been driest in recent weeks
    • Limited
      precipitation will impact the northwestern U.S. Plains and neighboring areas of Canada’s central Prairies
      • There
        is some potential for more frequent snow events to impact Montana and Wyoming as time moves along into early December
    • Much
      of California, the southwestern desert region, southern Rocky Mountains and southern Great Basin will be dry biased during the next ten days
    • U.S.
      Pacific Northwest will experience the greatest precipitation in the Cascade Mountains and areas west to the coast of Washington and Oregon as well as in the northern mountains of Idaho and western Montana
      • Most
        interior valleys are unlikely to get much precipitation
    • U.S.
      Delta the lower and eastern parts of the Midwest and Tennessee River Basin will receive rain most frequently and stay wettest over the next ten days
    • U.S.
      southeastern states will see a mix of rain and sunshine that may result in net drying for parts of the region
  • Ontario
    and Quebec, Canada will receive some periodic precipitation possibly slowing the late harvest
    • The
      moisture will be good for winter crops, although temperatures are trending cooler and wheat will soon turn semi-dormant
  • Much
    of southeastern Asia will see alternating periods of rain and sunshine
    • This
      will impact Vietnam, Thailand, Cambodia, Laos, the Philippines, Indonesia and Malaysia
    • Some
      net drying is expected in Sumatra, Indonesia, but soil moisture is abundant there today and a little drying might be welcome
  • Central
    America rainfall will be erratic over the next two weeks with the greatest rain expected in Caribbean and Gulf of Mexico coastal areas
  • Today’s
    Southern Oscillational Index was +8.21 and it was expected to move erratically over the coming week
  • New
    Zealand rainfall is expected to be below normal over the next week to ten days except along the west coast of South Island where rainfall will be greater than usual
    • Temperatures
      will be seasonable

 

Bloomberg
Ag Calendar

Tuesday,
Nov. 23:

  • EU
    weekly grain, oilseed import and export data
  • Brazil’s
    Conab releases sugar and cane production data (tentative)
  • Council
    of Palm Oil Producing Countries online webinar
  • U.S.
    poultry slaughter, 3pm