PDF attached

 

Good
morning

 

USD
turned lower and WTI is lower. US equity indexes are mixed. March Paris wheat hit a fresh contract high. US wheat futures are lower for Chicago, mostly lower for Minneapolis, and KC turned mixed. USDA reported a decline in the US winter wheat rating. The soybean
complex is selling off this morning. Argentina is projected to see a little more rain this weekend than previously projected. Corn is lower. South Korea’s MFG bought 48,500 tons of SA corn and 16,000 tons of SA soybean meal. Rain is in the forecast for eastern
Australia and threatens wheat quality. The above normal rainfall is a result from La Nina strengthening. New South Whales may see 30-40% of production at risk, according to a Reuters article. Turkey bought 6k sunflower oil and 370k barley. There is no major
US weather risk during the balance of this month but it will remain dry across the southern Great Plains.

 

 

 

 

Weather

Map

Description automatically generated

 

World
Weather Inc.

WORLD
WEATHER HIGHLIGHTS FOR NOVEMBER 23, 2021

  • Australia’s
    wet weather bias remains in place with rain in the east today through Thursday and then some lingering rain this weekend and next week in eastern winter crop areas of New South Wales.
    • The
      moisture is great for unirrigated summer crops, but not very good for unharvested winter wheat, barley or canola quality.
  • In
    South America there is a little more rain suggested for Argentina this weekend after rain falls Wednesday and then drier weather is advertised for next week.
    • The
      bottom line remains good for the nation, though.
    • Brazil
      is also experiencing a good mix of weather, despite the fact that rainfall has been less than usual in the south most of this month (classic La Nina).
  • Europe
    and western parts of the CIS will experience increasing frequency of snow and rain during the next two weeks
  • Southern
    India will stay too wet in some areas.
  • China
    will experience a dry biased pattern for a while after snow ends in the northeast today.
  • South
    and North Africa still need greater rain and should get it in the next two weeks. 
  • Coffee,
    cocoa, sugarcane and rice production areas around the world should see a favorable mix of weather, although some areas in Indonesia and Malaysia will be wetter biased
    • Recent
      lighter rainfall biases in northern South America (Colombia in particular) has been welcome
    • Southern
      India has been a little too wet and drier weather is needed
    • Improved
      sugarcane conditions are expected in eastern Australia

 

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
  • HOLIDAY:
    Japan

Wednesday,
Nov. 24:

  • EIA
    weekly U.S. ethanol inventories, production
  • USDA
    red meat production, 3pm

Thursday,
Nov. 25:

  • Malaysia’s
    Nov. 1-25 palm oil exports
  • Port
    of Rouen data on French grain exports
  • HOLIDAY:
    U.S.

Friday,
Nov. 26:

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

Source:
Bloomberg and FI