PDF attached

 

Good
morning
.

 

Lower
trade to start on improving US weather and end of week positioning.  Central WI, southern IL and northeastern NE saw rain yesterday.  Central WCB should see rain today.  Canada’s Prairies saw favorable rain yesterday bias eastern Alberta, Saskatchewan, and
Manitoba.  Good rains fell across parts of the Dakotas overnight bias northwestern North Dakota. Rain in central North Dakota has ranged from 0.20 to 0.67 inch while the Red River Basin has received nearly 2 inches, according to World Weather, Inc.  Maps of
rainfall below. 

o         
Williston 3.76 inches

o         
Stanley 2.56 inches

o         
Lansford 1.95 inches

 

Reuters
in a story said the U.S. EPA was considering ways to provide relief to U.S. oil refiners from biofuel blending mandates. RIN offers crashed (current off 15%) after this story was published.  Traders think this story is pressuring SBO and energy futures. 

 

 

 

 

Weather

Current
radar

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Past
7 days

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World
Weather, Inc.

WORLD
WEATHER HIGHLIGHTS FOR JUNE 11, 2021

  • Rain
    has impacted a part of the northern U.S. Plains and Canada’s Prairies overnight and more rain will fall today mostly in Manitoba and eastern Saskatchewan, Canada.
  • The
    heart of the U.S. Midwest is not likely to see much rain during the next couple of weeks, although scattered showers of light intensity will occur. Net drying is expected, though.
  • A
    tropical cyclone in the Gulf of Mexico late next week may move into the U.S. Gulf of Mexico coast at some point in time, but the storm will likely thwart Gulf of Mexico moisture from getting into the Midwest reinforcing the drier bias for those areas. 
    • Landfall
      has been predicted for the central Gulf of Mexico coast June 18-19
      • Areas
        from the upper Texas coast through Louisiana to western parts of Florida’s Panhandle will be closely monitored for landfall
        • Some
          changes in the outlook are possible and the situation will be closely monitored
    • Remnants
      of the storm will stay in southern United States and will not likely bring needed rain to the Midwest
  • Flooding
    in the U.S. Delta remains serious today and some crop damage has likely occurred from this week’s 3.00 to more than 10.00 inches of rain
    • Areas
      from southern Arkansas into central and interior northern Mississippi were most impacted
  • West
    Texas will continue in a net drying mode, but temperatures will trend a little cooler and there will be a few showers in the coming week
  • Brazil,
    Argentina, Australia, Europe and the western parts of Russia have seen no change in weather expectations overnight.
  • China
    is also expecting a good general weather pattern to prevail.
  • India
    will see excessive rain in the coming week from a monsoon depression that moves from Odisha into Madhya Pradesh
  • Russia’s
    New Lands look wetter in the second week outlook today than advertised Thursday
  • Sukhovei
    potential remains for next week in southern Russia and Kazakhstan, but the odds are low that much crop stress or damage will occur outside of western Kazakhstan

Source:
World Weather, Inc.

 

Map

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Source:
World Weather, Inc.

 

Bloomberg
Ag Calendar

Friday,
June 11:

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

Monday,
June 14:

  • USDA
    export inspections – corn, soybeans, wheat, 11am
  • U.S.
    crop condition — corn, cotton, soybeans, wheat, 4pm
  • EU
    weekly grain, oilseed import and export data
  • Ivory
    Coast cocoa arrivals
  • HOLIDAY:
    Australia, China, Hong Kong

Tuesday,
June 15:

  • FT
    Commodities Global Summit, day 1
  • Malaysia
    June 1-15 palm oil export data
  • Malaysia
    CPO export tax for July (tentative)
  • New
    Zealand Food Prices
  • New
    Zealand global dairy trade auction

Wednesday,
June 16:

  • EIA
    weekly U.S. ethanol inventories, production
  • FT
    Commodities Global Summit, day 2
  • Australia’s
    Abares to release agricultural commodities report
  • Brazil’s
    Unica may release cane crush, sugar production data (tentative)
  • CNGOIC
    oilseed conference, Chengdu, China, Day 1

Thursday,
June 17: