Long Range Summer Weather Forecasts For The US And EU

My chums at the excellent weather website StormX have a couple of interesting postings on their site today concerning the long-term weather outlook for Europe and the US this summer.

The European outlook here is predicting hot & dry conditions for Eastern Europe and the Black Sea during June, July and August which may not be great news for wheat production in those areas.

Sadly, but not surprisingly, there is no mention of the long hot summer here in the UK that some in the media have been promising us after last year's wash-out. In fact they are calling for "unusually moist conditions" for the north of the country.

For the US outlook, here, they are predicting cool and wet for the Midwest with a "relatively high" degree of confidence no less.

That won't do much for an early harvest, which could offer the potential for a late weather scare at the back-end. Perhaps even more importantly, America's dwindling stocks of soybeans may have to be eeked out a bit longer than anticipated. That really could put the cat amongst the pigeons.

Buying and holding September soybeans could be a great punt. Remember they shot up 274 cents, or almost four limit moves in one go, on the day the contract expired last year.