Cash Strategist 3/8/2023
Market focus shifts back to U.S. productionAs the start of the U.S. spring planting season approaches, the focus of the market will begin shifting back to the United States rather than being totally focused on South America. As this takes place, more attention will start to be placed on U.S. weather outlooks and, of course, what we may see for planted acreage.
One of the biggest weather factors on a global scale in recent years has been the ongoing La Nina event. Models now indicate this is finally diminishing with a good chance of being neutral by the end of March. This would be highly favorable for U.S. crop production, especially in the Southern Plains, where intense drought has reduced production for the past two years. There are now chances that La Nina will transition to El Nino, which...
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