FI Evening Grain Comments 11/11/22

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US
CBOT agriculture commodities were higher on Friday higher after China eased some covid restrictions. China reduced the amount of time that travelers and close contacts of infected people must spend in quarantine. The news spilled over into other commodity
markets including some metals and energies. USD was down sharply. US equities were higher by late afternoon trading The UN met with Russia in Geneva today over Black Sea grain deal but no details were provided.  CFTC commitment of traders data will be out
Monday.

Weather

Eastern
TX, and eastern TX will see precipitation today. KS, OK, and TX has an opportunity for light rain Monday. Other parts of the Great Plains will see net drying. The Midwest will see showers across the northwestern areas through today. Many areas of Brazil will
see rain through early next week. Argentina saw less than expected rain yesterday. Argentina should see widespread rain through Sunday, then again late next week.

World
Weather, INC.

MOST
IMPORTANT WEATHER FOR THE COMING WEEK

• Rain
  developed in western Argentina overnight and was expected to shift across much of the nation this weekend into early next week
• Initial
  rainfall was not very great with amounts to 0.92 inch in northern San Luis and to 0.83 inch in La Pampa while most other areas reported no more than 0.56 inch
• Eastern
  Argentina was mostly dry and warm
• Rain
  in Argentina this weekend and early next week will be sufficient to boost topsoil moisture for some improved late season wheat conditions
• Some
  improvement in corn and sunseed conditions will also occur
• Soybean
  planting will likely increase in areas where the precipitation is greatest
• Rainfall
  will be greatest in the southwestern half of Argentina with 1.00 to 2.50 inches of moisture possible by Tuesday
• Northeastern
  Argentina will receive 0.30 to 1.00 inch of rain with a few amounts to 1.50 inches
  
• Temperatures
  will be seasonable
• Argentina
  will be dry during the middle to latter part of next week with some rain developing again in the southwest at the end of the week that will spread northeast during the following weekend
  
• Resulting
  rainfall will vary from 0.20 to 0.75 inch with a few totals over 1.00 inch
• Temperatures
  will be seasonable
• Argentina’s
  bottom line should be good for short term improvements in crop and field conditions. Most of the rain expected in the next two weeks will still be a little too light for long term crop and field conditions especially in the north and eastern parts of the nation
  where more rain will be needed late this month and into December. Field progress should advance well following the two bouts of rain expected, though some concern about the long term outlook will remain because of La Nina and the less than ideal rain distribution
  over the coming ten days.
• West-central
  and northwestern Brazil crop areas received rain Thursday with sufficient amounts in central and southern Mato Grosso do Sul and central Mato Grosso for a welcome boost in topsoil moisture
• All
  of Brazil will receive rain over the coming five days with amounts varying greatly from one region to another
• All
  of the precipitation will be welcome, but portions of center west and far southern Brazil will need more moisture
• Net
  drying is expected from mid- to late-week next week that might last into the following weekend
• Rain
  will fall more routinely in northeastern Brazil and in some northern center south crop areas
• Brazil’s
  bottom line will remain favorable for crops in most of the nation with most areas getting sufficient rain to support short term crop development. There is some concern about long term soil moisture in Mato Grosso, Goias and Rio Grande do Sul, but as long as
  timely rain falls the bottom line is expected to be favorable for crop development and production potential. Another round of increased rainfall should occur in center west and center south Brazil after Nov. 20. Minas Gerais to Tocantins will be plenty wet
  during the next two weeks.
• U.S.
  weather Thursday and overnight was dominated by three storm systems
• A
  blizzard occurred in North Dakota, northern Minnesota and also impacted southeastern Manitoba and southern Ontario
  
• Snowfall
  of 16-22 inches occurred in central North Dakota with Bismarck getting 24 inches
• Northeastern
  North Dakota received 6 to 16 inches while northwestern Minnesota reported 4 to 11 inches through dawn today
• A
  frontal boundary pushing from central and eastern Oklahoma through eastern Kansas and Missouri to Wisconsin produced 0.60 to 1.56 inches of rain
• Remnants
  of Tropical Storm Nicole produced 1.00 to 2.24 inches of rain from northern Florida to Georgia and South Carolina with lighter rain farther to the north
• No
  crop damage resulted from the north after it left east-central Florida, although cotton may have experienced enough rain for short term discoloring
• U.S.
  weather coming up of interest to the marketplace…
• West-central
  U.S. Plains wheat production areas will continue dry or receive only a limited amount of moisture during the next two weeks
• Rain
  is expected in the Texas Panhandle and west Texas crop areas Sunday night into Monday with some snow possible in the north
• This
  system will move through Oklahoma and the remainder of Texas to the lower eastern Midwest Monday into Tuesday
  
• A
  band of snowfall varying from 1 to 6 inches will be possible while most of the moisture totals varying from 0.20 to 0.80 inch with a few amounts over 1.00 inch
  
• U.S.
  Delta will get some rain today and again during the early part of next week
• U.S.
  southeastern states will also receive some additional moisture early to mid-week next week with some rain lingering from Nicole today
  
• The
  moisture will maintain good soil moisture for winter crops, but field work may be slow for a while until drier weather resumes
• U.S.
  Pacific Northwest is unlikely to get a tremendous amount of precipitation during the next two weeks, but brief waves of rain and snow will impact the region
• California
  and southwestern states should remain dry over the next two weeks
• Another
  wave of cold coming into the northern Plains and upper Midwest during the late weekend and early part of next week will generate some additional light snow of a dusting to 3 inches
  
• U.S.
  temperatures will be colder than usual this weekend next week, although the eastern states will be a little slow cooling down
• Temperatures
  well below average will occur from Canada’s Prairies through the northern Plains, although the southern Plains and western Midwest will also be colder than  usual for a while this weekend and especially next week
  
• Warming
  is expected after Nov. 20.
• U.S.
  navigable river water levels will drift lower in the coming week, although parts of the lower Delta will get enough moisture for a short term boost in water levels briefly next week
  
• Ontario
  and Quebec, Canada weather will be mostly good for advancing corn and soybean harvesting and winter crop planting during the next ten days, despite a couple of precipitation events
  
• Precipitation
  days will be limited and moisture totals should be light
• A
  boost in precipitation is likely today and Saturday as remnants of Tropical Storm Nicole pass near the region