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There has been no significant change to the wetness across central and northern Brazil, and the dryness across Argentina and southern Brazil. That is a worrisome outlook for both areas.
The CoBank top executive acknowledges a growing focus on addressing climate change in a 2022 outlook statement.
Cold, arctic air continues to penetrate and push east across the U.S. on Thursday. That has induced a winter storm system in the Midsouth that will move through the mid-Atlantic tonight and the Northeast on Friday. The arctic air is not sticking around for very long and warmer air will move up through the Plains on Friday, with high temperatures rising 10 to 30 degrees from the high Thursday afternoon. That is ahead of another cold, arctic blast set to move through this weekend.
Arctic air will continue to push southeast, east of the Rockies this week, while dryness forecast in southern South America are the weather factors holding the market's attention on Wednesday.
A warmup is coming next week, but is it going to last? Looking at large-scale patterns and indices can give us a clue as to what the long-range future holds.