(ZSK23)(ZSN23)(ZSX23)(SOYB)(ZWK23)(ZWN23)(KEN23)(KEU23)(WEAT)(ZCN23)(ZCU23)(CORN)(TAGS) 

“UPDATE - The Drought Impacting Plains Wheat & Our PREVIEW of Tomorrow's USDA Planted Acreage Report”

by Jim Roemer - Meteorologist - Commodity Trading Advisor - Principal, Best Weather Inc. & Climate Predict - Publisher, Weather Wealth & Climatelligence

• My thoughts about tomorrow's USDA Release
• Video: Getting your bearings for what this report is likely to say    
   

This video discusses the all important March 31st planted acreage report, as well as the historic Plains drought for wheat, which has created a new bull market

To View Video >  >  >  >  >   C L I C K    H  E  R  E 

Preview of tomorrow's important USDA report, with a look-back on previous years:

• Analysts see 2023 corn acreage up 2.6% over last year.
• The soybean estimate you see below would be the narrowest range I have ever seen.
• Often, these reports can be shockers to the trade, so expect some fireworks after noon EDT (USA).
• New crop December corn and November soybeans will not start trading Midwest weather for another few weeks.

Estimates  for planted corn acreage have landed outside the range in six of the last seven years

USDA last month tentatively put all U.S. wheat acres in 2023 at 49.5M, up 8.2% on the year, the biggest yearly rise since 1996. Most of this increase is in spring and durum wheat. Remember, the current bull move in Kansas City wheat is due mainly to the drought and if there is some surprise on Thursday profit taking might occur.

Northern Plains and Canada have a deep snowpack

The heavy snow cover (blue) over the northern Plains and Canadian wheat, oats, and canola regions bodes well for potentially big crop yields this summer. That is if: 

• a) Spring flooding does not occur; and
• b) The summer does not turn hot and dry.

Download a free sample of WeatherWealth. Find out how Jim Roemer uses analogs to predict grain spring and summer weather here

https://www.bestweatherinc.com/weather-wealth-sample/

Stay tuned, what happens with late April-June planting weather will affect many grain markets. FIND OUT ABOUT OUR SPRING AND SUMMER FORECAST AND HOW WE CAUGHT THE RECENT BIG MOVE UP IN WHEAT FUTURES. WILL THINGS CHANGE? GET A 2 WEEK FREE TRIAL TO WEATHER WEALTH (if you haven't had a free trial before)

https://www.bestweatherinc.com

Thanks for your interest in commodity weather!

Warm Regards,

Jim Roemer, Scott Mathews, and The Weather Wealth Team 

• Please feel free to learn about Jim Roemer, our track record, and how we use weather to help traders around the world. If you have any questions, please don't hesitate to drop me a line  - Scott Mathews, Editor

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.

Trading futures and options involves a significant risk of loss and is not suitable for everyone. Past performance is not necessarily indicative of future results. There is no warranty or representation that accounts following any trading program will be profitable.