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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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Thursday Aug 10, 2023
Thursday Aug 10, 2023
WORLD WEATHER HIGHLIGHTS FOR AUGUST 10, 2023
- Tropical Storm Khanun was over South Korea today producing heavy rain in much of the Korean Peninsula
- Some remnant moisture from Tropical Storm Khanun will reach northeastern China Friday into the weekend aggravating flood conditions there, but not much, if any, new damage to crops and property will result
- Western and far southern India rainfall still looks limited over the next ten days to two weeks resulting in the firming of soil
- East-central China as well as the Yellow River Basin and North China Plain have been drying down recently and that has been a welcome change after flooding rain earlier this summer
- Southern Australia will continue to get timely rain that will be supportive of wheat, barley and canola early spring development potential
- Europe weather will be drying down in the coming week after many northern areas became too wet earlier this month
- Western CIS drying from southeastern Ukraine through Russia’s Southern Region to northwestern Kazakhstan and the southern Ural Mountains region will continue along with warm weather for at least another ten days stressing some unirrigated late season crops
- Wheat areas of western Argentina are unlikely to get significant rain for an extended period of time raising concern about production potential this year
- Brazil wheat and first season corn production areas will remain favorably moist over the next two weeks with seasonable temperatures
- Safrinha corn and cotton harvesting in Brazil will advance well into late August due to ongoing dry weather
- Portions of Malaysia and Indonesia continue to dry down due to more erratic rainfall recently
- Southern Philippines are drying out and western Thailand precipitation is still restricted with little change expected
- U.S. Corn and Soybean production areas will see timely showers and thunderstorms and mild temperatures in the coming week before trending a little warmer than usual with less rain in the second week of the outlook
- Texas heat and dryness will prevail for another ten days south of the Red River; Wichita Falls, Texas reached 113 Fahrenheit Wednesday
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