2023-08-02 19:08:00
By Agriculture. 02/08/2023 | 16:08
Unfortunately, the uptick was short-lived and not noticeable.
USA has the ball. This month the northern country is strong enough to define values.
The rains recorded in Nebraska, south-central Iowa, southern Illinois and part of Missouri alleviated the problem of soils lacking adequate moisture while impacting the market to the detriment of values.
Veamos
In the Corn Belt, storms rage over the Mississippi and the lower Mississippi Valley. They bring some relief in much of the drier Midwest.
Meanwhile, dry weather continues to dominate the northern and eastern Corn Belt.
The situation is better, but it is not quite right.
The Drought Monitor shows exceptional dryness covering about 20% of Missouri and Nebraska.
The month of July was hard for the development of crops.
As of July 30, soil moisture was seriously compromised in 5 states in the region: Missouri (76%), Minnesota (69%), Iowa (61%), North Dakota (61%), and Nebraska (51%). ).
Extended forecasts for the next 6 to 14 days speak of the probability of higher than normal rains and below-usual temperatures over a good portion of the US soybean/corn belt.
But, it must not be forgotten that they are forecasts, although, at the time they are made, they affect prices.
Meanwhile, dry weather continues to dominate the northern and eastern parts of the Corn Belt.
The forecasts, although they generate a change of mood, cannot be said to be of abundant rains. Below we see the prediction for the period from August 2 to 5.
Clearly, significant rains would be concentrated in a small space. A horizontal strip is displayed that crosses the country.
Regarding the period between August 5 and 7, the situation would improve in relation to the covered space that is centered above all in a good part of the Midwest.
And as regards the period between the 7th and 9th of that month, the forecast shows a lack of rain; patent.
The climate market continues to strongly mark the price level.
Forecasts, whether they come true or not, continue to determine prices at the time they are announced, under pressure from funds buying or selling.
Ups and downs await us.
Obviously, if it were to rain heavily, in this context of depressed Chinese demand and a large Brazilian harvest, values will fall.
But, nothing is certain. And the picture left by July in the US warrants some possibility of price strength.
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#Wednesday #drops #soybean #prices #Manuel #Alvarado #Ledesma