Market Perspectives – January 26, 2023

U.S. Weather/Crop Progress

U.S. Drought Monitor Weather Forecast: The National Weather Service Weather Prediction Center has forecasted a winter storm (valid January 25 – January 26) that will track through the eastern Great Lakes overnight. Bands of heavy snow are expected over northern New York and New England. A second area of low pressure will develop over Southern New England and move into the Gulf of Maine by early Thursday where over 10” of snow is forecasted for interior locations. Moving into next week (valid January 28 – February 1), the forecast calls persistently cold temperatures from the northern/central Rockies into the Upper Midwest, while the West will trend colder. the Southeast on the warmer side of normal, especially after the weekend.

At 8 – 14 days, the Climate Prediction Center Outlook (valid February 2 – February 8) calls for below-normal temperatures over most of the country except for the Southeast and Alaska. Parts of the Northeast, southern Southwest and central Alaska can expect near-normal temperatures, while parts of the Southeast and western Alaska have the greatest probability of warmer-than-normal temperatures. Most of the U.S. can expect near- to slightly above-normal precipitation with the probability of near-normal precipitation occurring from the northern Plains to the Northeast and from southern California to the southern Plains, including western and southeast Alaska. Southern parts of the Southwest and Alaska 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.