Market Perspectives – August 31, 2023

U.S. Weather/Crop Progress

U.S. Drought Monitor Weather Forecast: The NWS WPC 7-Day Quantitative Precipitation Forecast (QPF) calls for heavy precipitation accumulations ranging from 4 to 10+ inches in association with impacts of Hurricane Idalia, which is forecast to bring very heavy rains across the Big Bend region of Florida as well as across areas of the Coastal Plain of Georgia and the Carolinas. In the Northeast, dry conditions are expected, while most of the South, Midwest, and the Plains states are forecasted to experience generally dry conditions. In the West, some light to moderate accumulations ranging from 1 to 3 inches are expected across portions of Arizona, Utah, and in isolated areas of the central and northern Rockies.

The CPC 6-10 Day Outlooks call for a moderate-to-high probability of above-normal temperatures across much of the conterminous U.S. in an area extending from the Rocky Mountains to the Eastern Seaboard, while near-normal temperatures are expected over the remainder of the West except in Washington state where temperatures are forecasted to be below normal. In terms of precipitation, below-normal precipitation is expected across much of the southern tier of the conterminous U.S. as well as portions of the Mid-Atlantic, Great Basin, and Intermountain West. Meanwhile, above-normal precipitation is forecasted for areas of the Upper Midwest, Northern Plains, and the Pacific Northwest.

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