Russian rhetoric fails to support wheat.

On the second Thursday of each month international weather authorities release updated El Nino/La Nina estimates. Today's update shows they increased their view of El Nina chances May - July from 40% to 62%. That increases to at least 80% for the July - September period through November - January. We hesitate to say this will impact the US corn and soybean yield determination period (reproduction). We would suggest it increases the problems for Southeast Asia and Australia where a drier bias is normally seen with this weather issue.

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