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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 Jul 19, 2023
Wednesday Jul 19, 2023
WORLD WEATHER HIGHLIGHTS FOR JULY 19, 2023
- Today’s weather outlook continues to provide a bullish bias to market mentality because of dryness either present now or developing in the U.S., Canada’s Prairies, Europe, Mexico and Inner Mongolia
- Canada’s Prairies are still facing multiple days of warm to hot and dry weather beginning this weekend and lasting for at least a week and probably ten days – the heat will seriously stress crops and livestock with some crop failure expected in the driest areas and some lost production from many other areas
- U.S. Northern Plains will also experience a net drying bias – mostly in the central and western Dakotas and Montana
- U.S. Pacific Northwest will continue hot and dry for another ten days
- U.S. Midwest temperatures will continue mild for a while longer, but next week will trend warmer and the heat will come with restricted rainfall resulting in some further pressure on yield potentials for corn, soybeans, sugarbeets and other crops
- Texas (mostly south of the Red River) will continue hot and dry for at least another week and possibly for ten days
- Net drying is expected in the U.S. Delta while the southeastern states are favorably moist and will stay that way
- India will be excessively wet in the coming week over some central crop areas
- Most of China will continue to receive sufficient amounts of moisture to support good crop development
- Southern Australia will receive periodic rain to maintain a favorable outlook through the next two weeks
- Southeast Asia rainfall will continue erratic and sometimes light
- Argentina will wait for rain another week – at least
- Southern Brazil weather will be good for improving wheat and supporting Safrinha corn harvesting
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