Big time rains to hit Plains wheat - "Market to Market" Interview on El Niño
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“ Big time rains to hit Plains wheat - ‘Market to Market’ Interview on El Niño ”
By Jim Roemer - Meteorologist - Commodity Trading Advisor - Principal, Best Weather Inc. & Climate Predict - Publisher, Weather Wealth Newsletter
- April 21, 2023
- Weekend Wrap-Up & Prep for the Week to Come
Watch Jim's Interview on Iowa PBS > > > C L I C K H E R E
THE VIDEO ABOVE… is my interview on April 13th with Paul Yeager of Iowa PBS (Market to Market) about what will cause an El Nino (or not) and its potential summer impact on the grain market. Back in the early-to-late 1980s, after college, I had the good fortune to work for, and to help build up, a commodity weather forecast company (Freese-Notis Weather) in Des Moines, Iowa. Being from the Northeast, I did not even know where the corn belt was before I drove there (1500 miles) in a beat up AMC Pacer. In fact, I was so naive back then, that a well known commodity broker at the time, played a joke on me and gave me some “feed corn” to bring back east to my family. (I did not even know the difference between feed corn and sweet corn.)
Oh my God, what an experience! Without attending a class, or even opeining a book, I basically earned a Ph.D in agriculture, just by living in the Midwest, riding combines with Iowa farmers, taking crop tours and being on more than 100 Midwest farm radio stations in the late 1980s and early 1990s.
- In the meantime, big time rains are coming to drought stricken areas of Nebraska, Kansas, Oklahoma and Texas next week. But… is this enough to break their drought?
It all depends if the Trade Winds (maps below) begin to blow more from east to west, versus what they have been the last three years! (West to east from Australia = La Niña). Yes, ocean temperatures are super warm off the coast of Peru for a major El Niño to form, but the Trade Winds need to reverse, first!
- We alerted our WeatherWealth clients on Wednesday https://www.bestweatherinc.com/new-membership-options/ regarding a much more bearish outlook for wheat prices and trading strategies before the recent price collapse. Although past performance is not indictative of future results, one trade like this in a few days (catching the highs in KC wheat futures) is enough to pay for our newsletter for two years!
Please try it out for two weeks at the link above
Another big trade of note was catching the entire, recent up-move in coffee on global crop issues in Indonesia, Colombia and possibly Brazil, again.
Please feel free to join farmers, commodity traders, and ETF investors throughout the world who desire much more accurate short and long-range weather forecasts, plus trading strategies from a 38-year veteran and seasoned Commodity Trading Advisor. Request a 2-week free trial, here https://www.bestweatherinc.com/membership-sign-up/
Thanks for your interest in commodity weather!
Warm regards,
Jim, Scott, and the Weather Wealth Team
Mr. Roemer owns Best Weather Inc., offering weather-related blogs for commodity traders and farmers. 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.
