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Weather is one of the top most influential features in daily commodity futures trading. It is also the most important consideration for food company's making purchasing commitments and farmers to determine hedge positions and planting decisions. World Weather, Inc. has 73 years of combined agricultural world weather forecasting experience and its staff has been supporting the commodity futures trade since 1979. This daily podcast will provide insight to the day's most important weather issues influencing world market trading. It is designed to discuss all of the most important weather-related issues of the day and will help explain how those weather issues will influence production and help the listener make better business decisions whether in the commodity futures market or out of it.
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Friday Jun 23, 2023
Morning Market Weather For Friday, June 23, 2023
Friday Jun 23, 2023
Friday Jun 23, 2023
WORLD WEATHER HIGHLIGHTS FOR JUNE 23, 2023
- Hot temperatures in Texas may bubble up into Kansas, Missouri and parts of Illinois this weekend again during the middle to latter part of next week; extreme highs in the 90s Fahrenheit are expected with a couple of readings near 100
- Central Midwest rainfall will continue to be poorly distributed in the coming week, although a few showers and thunderstorms will pop up; no serious relief to dryness is likely
- Week two U.S. weather may provide a little more rain in the Midwest, but it may only be a temporary reprieve and some caution will be needed in determining the impact of that moisture; any rain will be important, but the relief may not last long
- GFS model is trying to bring a tropical cyclone into the Gulf of Mexico during the second week of the outlook, this may or may not verify, but be assured that the feature will influence week two weather in many of the coming computer model runs; (confidence in a storm verifying is very low today)
- No ridge of high pressure is expected in the U.S. Midwest next week or in the following week resulting in little to no potential for excessive heat except in the southwestern Corn Belt as noted in the first bullet above
- Northern U.S. Plains and upper Midwest rainfall expected this weekend and periodically in the second week of the outlook should prove extremely beneficial in improving crop and field conditions in the Dakotas, Minnesota, southern Manitoba and a some surrounding areas
- Rain in the Great Lakes region over the next couple of weeks will help prevent crops from drying down much more than they already have
- Texas will continue to deal with excessive heat for much of the coming week with extremes of 108 to 116 common in the central and south stressing livestock and unirrigated crops throughout the state and in parts of Oklahoma as well
- A strong energy demand for natural gas and electricity will continue in Texas and some immediate neighboring areas
- Canada’s Prairies will experience net drying in the heart of the region while Manitoba and western Alberta have the best chance for rain over the next week to ten days; greater rain is still expected in July across Saskatchewan
- India’s monsoon depression expected over the coming week will bring much needed rain to much of the nation
- Russia has confirmed lower sunseed and spring wheat yields because of dryness earlier this season in the eastern New Lands, but weather in this coming week will be mild to cool and rain is expected in many areas
- China will continue quite wet in the southern rice areas where early rice quality may be compromised and some delay in harvesting is likely
- Net drying may continue north of the Yellow River for a while, but most of the dryness will be in minor summer crop areas with some sugarbeet and spring wheat impacted
- No changes in South America weather were noted overnight
- Eastern Australia’s rain event is still on for late next week and in the following weekend; if it verifies it would be a big boon for wheat and barley in Queensland and northern New South Wales where it has been dry, but the system may be a little overdone
- Indonesia and Malaysia rainfall is becoming quite erratic and light, but some increase in rainfall is expected
- Water supply in mainland areas of Southeast Asia remains poor and western Thailand rainfall continues well below normal; other areas in Vietnam, Cambodia and Laos will get timely rain of greater benefit
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