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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 05, 2023
Morning Market Weather Update For Wednesday, July 5, 2023
Wednesday Jul 05, 2023
Wednesday Jul 05, 2023
WORLD WEATHER HIGHLIGHTS FOR JULY 5, 2023
- Welcome rain fell in eastern Australia Monday and Tuesday of this week; The moisture will prove helpful to wheat, barley and some canola establishment, although more rain is needed
- Some beneficial rain fell across South Dakota and southern North Dakota into Wisconsin over the past two days, but more rain was needed in the upper Midwest
- Canada’s Prairies are still drying out and will continue to do so for the next ten days, although there is some potential for rain next week in a part of southern Alberta’s driest region
- Northern U.S. Plains from northern Montana northern North Dakota and portions of Minnesota are drying out and will need significant rain soon
- Most of Texas needs significant rain, but another week will go by before there is much opportunity for rain and temperatures will be seasonably warm to hot
- Northern U.S. Plains and south-central and southeastern Canada’s Prairies will be cooler than usual through the weekend and then warmer next week
- U.S. rainfall over the next ten days will be limited in the upper Midwest and northern Plains while sufficient in the lower Midwest and central Plains to support long term crop moisture needs
- Some beneficial rain will impact Argentina winter crop areas during the coming week to ten days; “some” relief to dryness is expected in Cordoba and immediate neighboring areas over time
- Good Safrinha corn and cotton harvest weather is expected through Saturday and then some rain may interfere with fieldwork from Mato Grosso do Sul into Sao Paulo and Parana for a while thereafter; Mato Grosso harvesting will remain fine
- Rain in Europe will continue erratic over the next ten days benefiting some areas more than other and greater rain may be needed in the drier areas
- CIS rainfall is expected to be relatively well distributed, though greater amounts will soon be needed in a part of Russia’s Southern Region, northern Kazakhstan and some neighboring areas of Russia’s New Lands
- China weather will be sufficient for summer crops, although Inner Mongolia and the southeastern corner of the nation will be dry for a while; crop stress will remain significant in Inner Mongolia because of dry and warm conditions
- Rain did fall beneficially to crop areas immediately north of the Yellow River and in the North China Plain Monday and Tuesday
- India’s monsoon will continue to perform well enough to support most crops favorably
- Mexico’s monsoon will remain weak, but it should become better organized over time in the next ten days
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