https://www.agriculture.com/markets/analysis/crops/corn-soybean-markets-trade-mixed-wednesday-september-15-2021
Al Kluis, Kluis Advisors, says that investors eye South America’s planting weather. “The early trade projections (for record corn and soybean production in Brazil again this year) may prove to be wrong again. Since so much of the forest in the Amazon has been cut down, the weather pattern has changed. That large forested area in Brazil used to produce moisture that created rain for the crop areas of central and southern Brazil. As the forested areas of the Amazon are depleted, the dry weather problems seem to intensify each year. The early forecasts from the Brazilian meteorologists are for normal rain in October with dry conditions likely to develop in November and December. I will be watching to see how this unfolds,” Kluis stated in a note to customers. Kluis added, “Will the September-to-December continuation gaps get filled in the CBOT corn and wheat markets? The September-to-November soybean continuation gap was filled on Tuesday.”
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