PDF attached




a lower trade in energies and higher USD (up about 20 points and highest level since November 2020), major CBOT agriculture markets are higher. 
US equities are seeing a reversal.  EU markets are lending support to CBOT soybeans and wheat.  Look for positioning today.  Grain Stocks and Small Grains Annual Summary reports are due out at 11 am CT on Thursday.  Algeria bought wheat
and Pakistan are in for wheat.  A Bloomberg poll looks for weekly US ethanol production to be up 13,000 barrels (920-953 range) from the previous week and stocks up 84,000 barrels to 20.195 million.






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Weather Inc.


  • U.S.
    hard red winter wheat areas will get rain over the next few days improving wheat planting and emergence conditions, but follow up rain will be needed
  • West
    Texas cotton areas will get rain over the next few days, but the impact will be short-lived and any slowdown in crop maturation will be temporary 
  • U.S.
    western Corn and Soybean Belt will trend a little wetter over the next few days with the east trending the same late this week and into the weekend
    • a
      slowdown in crop maturation and harvesting will occur, but a full week of drying may follow
  • U.S.
    Northwestern Plains, Canada’s Prairies and much of the far western U.S. will be dry For an extended period with more heat next week in the northwestern Plains and Canada’s Prairies
  • Southeastern
    U.S. will see a good mix of weather over the next two weeks
  • U.S.
    Delta will get rain a little more frequently than desired for a while slowing fieldwork and raising a little concern over cotton conditions
  • Southern
    and eastern Argentina will get some rain over the next couple of days, but west-central and northwestern areas will remain dry biased for an extended period of time
  • Brazil
    rain will be greatest in the interior south through the weekend, but showers in center west and center south will increase next week
    • the
      precipitation will still be erratic with some areas getting more rain than others and the need for additional moisture will be high
  • India’s
    monsoon will finally begin to withdraw this weekend and especially next week
  • Rain
    in southern Pakistan today will raise a little concern over cotton fiber quality, but the rain will only last a couple of days
  • Gujarat,
    India should not have been harmed by recent rain because of crop development being later than usual
  • Punjab
    and Haryana cotton quality was compromised this month by periods of heavy rainfall 
  • China
    is still expecting another round of heavy rain north of the Yellow River and in a part of the northeastern Provinces
    • Much
      of the north has been too west recently and needs to dry out for summer crop harvesting and winter crop planting
  • Russia
    and Ukraine winter crop areas along with eastern Europe will experience a week of dry weather 
    • Planting,
      emergence and establishment of winter crops will improve during this period 
  • Dryness
    is still a concern for the lower Danube River Basin, southern Italy and parts of Spain
  • South
    Africa will get some beneficial rainfall in the coming week supporting wheat as it approaches and enters reproduction
  • Eastern
    Australia received some welcome rain Tuesday and early today with Queensland and New South Wales reaping most of the benefits
    • More
      rain will fall into Thursday
    • The
      moisture will be good for reproducing winter crops
    • The
      moisture will also improve topsoil moisture for future cotton and sorghum planting in Queensland, although much more will still be needed

World Weather Inc. 


Ag Calendar

Sept. 29:

  • EIA
    weekly U.S. ethanol inventories, production
  • Vietnam’s
    General Statistics Office releases Sept. trade data
  • Brazil’s
    Unica releases sugar output and cane crush data (tentative)

Sept. 30:

  • USDA
    weekly crop net-export sales for corn, soybeans, wheat, cotton, pork and beef, 8:30am
  • USDA
    quarterly stocks – corn, soy, wheat, barley, oat and sorghum, noon
  • U.S.
    wheat production, noon
  • U.S.
    agricultural prices paid, received, 3pm
  • Ivory
    Coast farmgate cocoa prices to be announced
  • Malaysia
    September palm oil exports
  • Port
    of Rouen data on French grain exports

Oct. 1:

  • 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
  • New
    cocoa season in Ivory Coast starts
  • U.S.
    DDGS production, corn for ethanol
  • USDA
    soybean crush, 3pm