PDF attached

 

Good
morning
.

 

Under
the 24-hour announcement system, US exporters sold 1,360,000 tons of corn for delivery to China during the 2021-22 marketing year. (same amount, destination, and crop-year that was reported May 7, FYI). 

 

Prices
are rebounding this morning on a lower USD, strength in WTI crude oil and higher US equities.  Some think the selloff yesterday was overdone and others are downplaying the disruption in barge movement. 
Trade
may know as early as the end of this weekend when barges can start passing the closed section of the of the Mississippi River near Memphis after the physical inspection of the bridge is complete, IMO.  Offshore values, currency adjusted, are giving the trade
little lead again this morning.  EU wheat futures were 2 euros higher and July canola 2.30 Canadian dollars lower.  The Great Plains are expected to see rain through early next week.  Rains return to the Delta Monday and Tuesday of next week.  Brazil’s forecast
is wetter for late next week.  Parts of the Black Sea will see hot temperatures on and off over the next couple of weeks. 

 

 

As
we learned last week, most CME/CBOT pits are now permanently closed.  Link provided takes us back what they used to look like.
https://www.youtube.com/watch?v=a25jc54YFzo

 

 

Weather

 

Next
7 days

 

Last
7 days

 

World
Weather, Inc.

Today’s
World Weather Highlights

  • CANADA
    WEATHER STILL UP FOR DEBATE
    • European
      forecast model further downplays rain in the eastern Canada Prairies through May 23, although it is not completely dry
    • European
      model presents significant rain in Alberta, Canada and far western Saskatchewan Thursday through Saturday of next week with 1.00 to 2.00 inches and locally more especially in Alberta
    • GFS
      model suggests showers of lighter intensity impacting most of Canada’s Prairies Wednesday into Friday of next week, but no heavy rainfall in Alberta
    • GFS
      suggests greater rain for Saskatchewan May 23-25
  • Northern
    Plains rainfall potential is not very great, although a few showers are suggested
  • Stormy
    weather pattern is still expected in the central and southern Plains and parts of the lower Midwest over the coming ten days
  • Upper
    Midwest rainfall potential greatest late next week and into the following weekend
  • Frost
    and freezes were noted this morning in far southern Rio Grande do Sul and from far northeastern Rio Grande do Sul into southeastern most Santa Catarina
    • This
      was outside all major crop areas
  • Russia’s
    New Lands are expected dry and warm biased conditions over the next ten days drying some spring wheat and sunseed areas out
  • Brazil’s
    Safrinha corn areas will be dry in this first week of the outlook, but showers are expected May 21-23 impacting many crop areas with light rainfall
  • Europe
    and the western CIS are still advertised to be wet in the coming week to ten days
  • Western
    Australia is advertised a little wetter today for the end of next week, although the precipitation is expected to be light
  • China’s
    flooding rainfall problems in the Yangtze River Basin will persist over the next week to ten days and a close watch on that region is warranted
  • Some
    timely rain is still expected in the North China Plain and Yellow River Basin, although Hebei, Shandong and Liaoning do not get much rain until the second weekend of the forecast
  • Gujarat
    India and Pakistan will be threatened by Tropical Cyclone 1A that is forming quickly off the west coast of India and landfall is possible during the middle part of next week.

Source:
World Weather, Inc.

 

Bloomberg
Ag Calendar

Friday,
May 14:

  • ICE
    Futures Europe weekly commitments of traders report, 6:30pm London
  • FranceAgriMer
    weekly update on crop conditions
  • CFTC
    commitments of traders weekly report on positions for various U.S. futures and options, 3:30pm
  • HOLIDAY:
    Indonesia, Malaysia, Dubai

Monday,
May 17:

  • USDA
    export inspections – corn, soybeans, wheat, 11am
  • U.S.
    crop plantings – soybeans, cotton; winter wheat condition, 4pm
  • U.S.
    Green Coffee Association releases monthly green-coffee stockpiles
  • EU
    weekly grain, oilseed import and export data
  • Ivory
    Coast cocoa arrivals
  • Malaysia
    crude palm oil export tax for June (tentative)

Tuesday,
May 18:

  • China
    customs to publish trade data, including imports of corn, wheat, sugar and cotton
  • New
    Zealand global dairy trade auction
  • Brazil’s
    Conab releases cane, sugar and ethanol production data
  • International
    Sugar Organization and Datagro to hold New York sugar & ethanol conference

Wednesday,
May 19:

  • EIA
    weekly U.S. ethanol inventories, production
  • BMO
    Farm to Market Conference, day 1
  • International
    Sugar Organization and Datagro to hold New York sugar & ethanol conference
  • HOLIDAY:
    Hong Kong

Thursday,
May 20:

  • USDA
    weekly crop net-export sales for corn, soybeans, wheat, cotton, pork, beef, 8:30am