PDF attached

 

Good
morning.
 
Happy May Day

 

USD
was 1 point lower, WTI crude down $1.76 and US equities mostly lower. Many countries are on holiday for May Day and therefore news is light. CBOT ags are mostly lower from an improving US weather outlook bias Midwest with restricted showers until at least
the end of the week. However, the Great Plains will see limited rainfall and the Canadian Prairies will be dry and warmer than normal this week. Some traders are looking for an improvement in US winter wheat crop conditions when updated this afternoon after
rain developed last week across key production areas. Later
today NASS will update US March crush. Estimates for crush and (revised) corn use below.

 

 

Fund
estimates as of April 28

 

 

 

Weather

Map

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Last
7 days

Map

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World
Weather Inc.

WORLD
WEATHER HIGHLIGHTS FOR MAY 1, 2023

  • Unusually
    great amounts of rain fell in India during the weekend stalling fieldwork and raising concern for unharvested winter crops
    • Unsettled
      weather will continue through Wednesday causing more delay and more concern over crop conditions
  • Portions
    of China’s eastern North China Plain and the northeastern provinces received rain during the weekend improving spring planting moisture and improving a few winter crops in Hebei; Shandong missed the rain once again and is too dry in some areas
  • A
    few more showers and thunderstorms are expected in West Texas during the next ten days, although big soakings of rain may elude the region for a while longer
  • U.S.
    Midwest will experience a good mix of rain and sunshine, although there will be some disruption to farming activity
  • U.S.
    Plains weather will be favorably mixed for spring planting and emergence and some winter crops will benefit from the moisture as well
  • U.S.
    Midwest weather will be cool, showery and blustery today and for a little while Tuesday resulting in poor field working conditions, but mid- to late-week weather will improve before rain resumes late this week and into the weekend
  • Canada’s
    Prairies will be unusually warm and drier than usual this workweek allowing spring fieldwork to advance in many areas; some rain will impact southeastern Manitoba during the weekend and Alberta could be impacted with some rain by early next week
  • Brazil’s
    key Safrinha corn and cotton producing areas will experience limited rainfall for the next ten days and seasonable temperatures
  • Eastern
    Argentina will trend wetter later this week and the moisture will spread to the south this weekend and early next week
  • Heavy
    rain is possible in northeastern Argentina, Paraguay and Rio Grande do Sul Friday into Monday of next week
  • Frost
    and freezes occurred late last week in northeastern Europe causing damage to various fruit bearing bushes and trees, but not to wheat or rapeseed; additional cold weather is expected over coming week to ten days with some of that getting into northwestern
    Russia as well
  • Spain,
    Portugal and North Africa will continue warm and mostly dry for another ten days
  • Dry
    and warm weather will continue this week in Kazakhstan and southern parts of Russia’s eastern New Lands; dryness continues into next week with more seasonable temperatures likely
  • Southeast
    Asia will continue receive periodic rain supporting most crops and fieldwork
  • Australia
    rainfall will be confined to the far south this week; Western Australia may get some needed rain next week

Source:
World Weather, INC.

 

Bloomberg
Ag calendar

Monday,
May 1:

  • USDA
    export inspections – corn, soybeans, wheat, 11am
  • USDA
    soybean crush, corn for ethanol, DDGS production, 3pm