Market Perspectives – January 19, 2023

U.S. Weather/Crop Progress

U.S. Drought Monitor Weather Forecast: The National Weather Service Weather Prediction Center forecast for the remainder of the week (valid January 18 – January 20) calls for a winter storm to bring freezing rain and snowfall to the High Plains and Upper Midwest. To the southeast, showers and thunderstorms are expected with localized areas of heavy rainfall. Chances will increase for a wintry mix of snow, sleet and freezing rain along the East Coast as the storm system moves into the northeast on Thursday. Much of the southern U.S. can expect unseasonably warm temperatures. Meanwhile, another storm system is expected to move southeastward through the Pacific Northwest into the Northern Rockies, the Great Basin, California and the Desert Southwest, bringing rain and snow at lower elevations and heavier mountain snow.

Moving into next week (valid January 21 – January 25), the forecast calls for a storm system to track from the central Plains to the Northeast, bringing strong winds and wintry weather to the northern regions and rain to the south. At 8 – 14 days, the Climate Prediction Center Outlook (valid January 25 – January 31) calls for below-normal temperatures over most of the country except for the Northeast, Southeast and Alaska. The Northeast can expect near-normal temperatures, while the Southeast and Alaska have the greatest probability of warmer-than-normal temperatures. Most of the U.S. can expect near- to slightly above-normal precipitation. Only the Pacific Northwest and northern Minnesota have increased odds for below-normal precipitation.

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