Chicago wheat advances on KC again. Will the Plains see rains next month? November 21, 2023
Yesterday's scattered rains in Brazil's Center/West region brought 0.4 to 1.4 inch to much of the secondary states of Goais and Mato Grosso do Sul. The main state, Mato Grosso, saw that amount only in the lower ⅓. Those three states will see another 1 inch this week. Drew Lerner remains concerned that warm and dry conditions will return next week for the Center/West. The wet southern states of Parana and Rio Grande do Sul will see continued rains this week, 0.6 to 4.9 inches. There is a light, valid, production hit to expect from weather to this point. The trade is lightly pricing additional premium based on the potential for no improvement in weather in the months ahead when reproduction hits.
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