Though it certainly doesn’t feel like it this week, we are inching our way closer to springtime, where weather in the U.S. will become more of a focal point for the grain markets. Here we look at current conditions, a 2-week outlook, and the National Weather Service’s 3-month outlook.
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Below is an updated look at the weekly drought monitor with an updated look at the rootzone moisture map below that. As you can see from this year to last, there are some early concerns, particularly in Iowa and into Minnesota.
Looking at the 8-14 day outlooks weather looks to moderate with the potential for a little more than near normal precipitation for a vast majority of the Midwest.
Predicting weather past two weeks in the Midwest is a lot like playing pin the tail on the donkey after a long night out. With that said, there are traders and other market participants that are constantly looking forward in an attempt to skate to where the puck (trend) is going, not to where it is. So, although it seems silly to look so far out, it is something that should be monitored. Below is the 3-month outlook from the National Weather Service, which show a strong chance of above normal temperatures for much of the Midwest this spring.
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