COMMENTARY 12/24/15 ****HIGH WATER CLOSING STL FACILITIES!!

**HIGH WATER – DELUGE IS CLOSING STL RIVER FACILITIES!!!!

  St Louis river level ~RISING RAPIDLY~ at +36.0 and forecast to be 43.9 by  1/1  (Flood Stage is 30.0)  

FORECAST:         12/27    12/28    12/29     12/30       12/31      1/1

                                  33.6       36.0      41.5       44.4         44.8      43.9

Further forecasts calling for Cresting Wed/THUR   –>THIS IS RECORD SETTING POTENTIAL. ~STAY TUNED~

It’s the same forecast for SA, below normal rain and above average heat affect N Brazil the next 7-10 days.  There is a fair amount of uncertainty but seasonably-heavy rain is likely in driest N areas of Brazil Jan 1-5th.  S Brazil and Paraguay’s forecast continues wet as storm clusters continue to impact the region.  The Argentine expects no change warm and wet.

CORN

DOWN 1

Weaker despite that Exports were SO good!  Export Sales were 31.6 vs expectations of 20 – 28 mill bu!!  The current corn price in Argentina $10-12 per metric ton CHEAPER THAN the US.

BEANS     

DOWN 5

No presents for the holidays! Brazil’s forecast has more moisture in it. Sunday night’s markets will  likely depend on updated forecast runs. Export Sales were great 76.0 vs expectations of 30 -40.  Maybe it will help on Monday!

 

WHEAT          

DOWN 1

Exports were mid- range at 13.6 vs 9 – 17 mill bu expected.