Summary Hackett Agricultural Insiders Report on Global Weather files.constantcontact.com
286 words - PDF document - View PDF document
One Line
The disappointing recent rains may lead to a correction in the market, but the warming North Atlantic and weakening El Nino could result in warmer trends in July, while the slow start to the India monsoon season and potential hot dry weather in China could impact corn pollination.
Slides
Slide Presentation (7 slides)
Key Points
- Recent rains have been disappointing, but more rains are expected in the next 10 days.
- A dramatic warming of the North Atlantic increases the likelihood of warmer trends in July.
- The El Nino is weakening and all models are lowering their peak El Nino strength forecasts for the fall.
- A weaker El Nino could help weaken the strong positive global angular momentum, leading to a more neutral/negative reading.
- The India monsoon season has had a slow start, leading to one of the worst monsoon seasons since 2002.
- China needs to be monitored for potential hot dry weather in June and July, which could impact corn pollination.
Summary
137 word summary
Recent rains have been disappointing, but more rains are expected in the next 10 days. This may cause speculators to liquidate some long positions and result in a correction by the end of the month. A dramatic warming of the North Atlantic over the past 30 days and especially the past 2 weeks increases the likelihood of warmer trends in July. The El Nino is weakening and all models are lowering their peak El Nino strength forecasts for the fall. A weaker El Nino could help weaken the strong positive global angular momentum, leading to a more neutral/negative reading. The India monsoon season has had a slow start, leading to one of the worst monsoon seasons since 2002. China needs to be monitored for potential hot dry weather in June and July, which could impact corn pollination.