Historic Atmospheric Rivers, Plains Wheat Drought, Heat and Flooding to India’s crops
“Historic Atmospheric Rivers, Plains Wheat Drought, Heat and Flooding to India’s crops”
by Jim Roemer - Meteorologist - Commodity Trading Advisor - Principal, Best Weather Inc. & Climate Predict - Publisher, Weather Wealth
- Friday, March 24, 2023 - Weekend Report
- Our video explains what's going on in grains
To View Video > > > > > PLEASE CLICK HERE
In the midst of improved Brazil harvest weather that has sharply pressured soybeans this week, there is the potential for a big recovery in the 2023 U.S. corn and soybean production. However, there are some crop concerns for one of the grain commodities presently… namely, the wheat market. Not only is the Plains drought expanding but flooding has not followed the intense late-season heat that threatens India's wheat crop. India is one of the world's top wheat exporters. What once was a robust crop is now crashing down. In addition, Russia may be recommending a halt to exports. These facts helped wheat prices soar on Friday and something I alerted my WeatherWealth newsletter subscribers about early Wednesday morning.
In the video above, I talk about the historic California atmospheric rivers, the Plains wheat drought, and more. With La Niña pretty much gone now, typically excellent spring rains benefit the wheat-growing areas in March through May. This period is the critical time for the wheat crop to come out of dormancy. However, “not so fast.” Some of our research suggests otherwise: more problems for Plains wheat?
What are our weather forecasts, trading views, and summer outlook for grain prices? We invite you to request a two-week FREE TRIAL to WeatherWealth, (at the following link) or receive a free sample. The sample discusses how we called the bull market in cattle on the Plains drought, months ago: https://www.bestweatherinc.com
Thanks for your interest in commodity weather!
Jim Roemer, Scott Mathews, and the Best Weather Team
Mr. Roemer owns Best Weather Inc., offering weather-related blogs for commodity traders and farmers. The Weather Wealth blog, an online newsletter including both short-term and long-term forecasts and trading ideas can be accessed at https://www.bestweatherinc.com/
He also is a co-founder of Climate Predict, a detailed long-range global weather forecast tool. As one of the first meteorologists to become an NFA registered Commodity Trading Advisor, he has worked with major hedge funds, Midwest farmers, and individual traders for over 35 years. With a special emphasis on interpreting market psychology, coupled with his short and long-term trend forecasting in grains, softs, and the energy markets, he established a unique standing among advisors in the commodity risk management industry.
On the date of publication, Jim Roemer did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
