Market Perspectives – August 10, 2023

U.S. Weather/Crop Progress

U.S. Drought Monitor Weather Forecast: According to the Weather Prediction Center (WPC), during the next five days (August 10 – 14, 2023), moderate to heavy precipitation (0.5 to 2 inches, locally more) is forecast for the Midwest, Ohio and Tennessee Valleys, and Northeast. Farther to the south, little to no precipitation and above-normal temperatures are forecast to persist across the lower Mississippi Valley and Texas. Scattered thunderstorms may result in local amounts in excess of 0.5 inches for the Four Corners region. A warming trend is expected for the Pacific Northwest and intermountain West during mid-August.

The Climate Prediction Center’s 6-10 day outlook (valid August 15 – 19, 2023) depicts large probabilities (more than 60 percent) for above-normal temperatures throughout much of the West, southern Great Plains, and Gulf Coast. Probabilities for above-normal temperatures decrease farther to the north with a slight lean towards below-normal temperatures across the northern Great Plains. Above-normal precipitation is slightly favored across the northern Rockies, northern Great Plains, upper Mississippi Valley, and New England, while below-normal precipitation is more likely across the southern Great Plains and lower Mississippi Valley.

Follow this link to view current U.S. and international weather patterns and future outlook: Weather and Crop Bulletin.