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VINIMEX are pleased to update market news on JULY 15, 2020 as below
Grain prices were mixed but mostly higher Wednesday. Corn led the way again today on another round of technical buying and short-covering from USDA’s unexpectedly lower acreage estimates yesterday, plus mounting concerns that unseasonably hot, dry weather could descend on the U.S. as large portion’s of this season’s crop is set to pollinate. Soybean and winter wheat contracts also moved moderately higher today, closing with gains mostly between 1% and 1.5%. Spring wheat sales finished the session modestly in the red, in contrast, as some much-needed rains land in key production areas this week.
Forecasts for the start of the week in the Midwest are exponentially more dry compared to the same time a week ago, according to NOAA's short-range forecast. The Eastern Corn Belt should have a chance to dry out early this week and catch up on planting progress as temperatures heat up across the Corn Belt.
[VINIMEX] DAILY MARKET NEWS MAY 27 , 2020
Another 1” or more rainfall could land in the Central Plains between Wednesday and Saturday, per the latest 72-hour cumulative precipitation map from NOAA. The Corn Belt is expected to receive more modest totals during this time, however. As May draws to a close, NOAA’s 8-to-14-day outlook predicts seasonally warm weather across much of the U.S., with some drier-than-normal conditions developing in the Plains between May 27 and June 2.
Another 1” or more total rainfall is expected to fall on a large portion of the Midwest and Mid-South between Wednesday and Saturday, per the latest 72-hour cumulative precipitation map from NOAA. The upper Midwest could remain fairly dry during this time. Further out, NOAA’s 8-to-14-day outlook predicts some seasonally wet, cool weather between May 12 and 18.
A wet weekend may be in store for some parts of the Midwest and Plains, with 1.5” or more expected for much of the eastern Corn Belt between Friday and Monday, per the latest 72-hour cumulative precipitation map from NOAA. Further out, the agency’s 8-to-14-day outlook predicts cooler-than-normal weather for the Great Lakes region between April 30 and May 6, with seasonally warmer temperatures farther west. NOAA also expects to see drier-than-normal weather develop in the Central Plains during this time.
The southern U.S. is in for a relatively wet three days, with many areas likely to gather another 1.5” or more between Tuesday and Friday, per the latest 72-hour cumulative precipitation map from NOAA. The Midwest and Plains are expected to see only modest precipitation during this time, however. Further out, NOAA is expecting a temperature split heading into May, with warmer-than-normal temperatures west of the Mississippi River and seasonally cooler weather farther east between April 27 and May 3, per the agency’s latest 8-to-14-day outlook.
Some light rain and snow is possible through Thursday across parts of the Corn Belt, per the latest 72-hour cumulative precipitation map from NOAA, although most parts of the central U.S. won’t expect to gather more than trace amounts during this time. Further out, the agency’s latest 8-to-14-day outlook calls for continued seasonally cool weather from April 20 to 26. Wetter conditions should prevail in the eastern Corn Belt during this time, with some seasonally dry weather more likely in the Plains.
Some severe weather, including a round of tornadoes, is possible for parts of the eastern Corn Belt and mid-Atlantic states tonight into tomorrow. Damaging winds and hail are also possible with these storms. Later in the month, NOAA predicts some dry conditions in the upper Midwest but seasonally wet weather elsewhere in the central U.S. between April 14 and 20, with much colder-than-normal conditions likely for much of the country during this time, per the agency’s latest 8-to-14-day outlook.