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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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Wednesday Aug 30, 2023
Morning Market Weather Update For Wednesday, August 30, 2023
Wednesday Aug 30, 2023
Wednesday Aug 30, 2023
- Hurricane Idalia was slamming into the upper west coastal region of Florida’s Peninsula today producing 130 mph wind speeds,l torrential rain and horrific storm surge.
- The storm is coming inland in a region that is not heavily populated and that should help to minimize some of the damage; however, what property is there will be impacted
- Idalia will race northeast to the Carolina coast by Thursday and the fast movement of the storm will help keep some of the rain amounts low and the impact of the storm lower than it might otherwise be
- Typhoon Saola remains between Luzon Island and Taiwan today, but it will move toward the south Coast of China over the next two days; landfall is unlikely, but the system will get close enough to land to interfere with shipping and port activity in and around Hong Kong
- Interior parts of China are advertised a little drier for a while in the coming week to ten days and that should be a welcome change
- Northern India will remain dry biased for the coming ten days, but a monsoon low pressure system is expected to come inland from the Bay of Bengal next week to induce some increase in rainfall in central and eastern parts of the nation
- Gujarat, Rajasthan and Pakistan may not be impacted by the new rain event
- A boost in second week rainfall was suggested today for eastern Ukraine and Russia’s Southern region near Krasnodar; otherwise, dry and warm biased conditions will continue in Russia’s Southern Region, western Kazakhstan and areas north to the Volga River Basin during the next ten days to two weeks
- Europe weather is expected to continue trending more active again for a while with many areas getting rain at one time or another
- U.S. crop areas in the Great Plains, Midwest and northern Delta are still advertised dry or mostly dry for the coming ten days
- Canada’s Prairies receive restricted rainfall in this first week of the outlook with “some” potential for greater rain next week in at least a part of the region
- U.S. hard red winter wheat areas need rain for early season planting, but only a limited amount of precipitation is expected
- Western Argentina will get some rain this weekend with model divergence keeping the amount of rain questionable. The European model suggests 1.00 to 2.00 inches of moisture in Cordoba and Santa Fe while the GFS model suggests no more than 0.60 inch
- The precipitation may end up being light
- Brazil weather changed very little overnight
- Australia rainfall will continue limited in the south over the next ten days except in Victoria and the far southwestern corner of Western Australia where rainfall should be sufficient to maintain good soil moisture; net drying is expected elsewhere.
- Queensland and northern Western Australia need rain immediately to improve reproduction potentials for unirrigated crops
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