South American Commodities & Coldest December for Eastern U.S. Natgas Demand Since 2013

“South American Commodities & Coldest December for Eastern U.S. Natgas Demand Since 2013”

by Jim Roemer – Meteorologist – Commodity Trading Advisor – Principal, Best Weather Inc. & Climate Predict – Publisher, Weather Wealth Newsletter

• Monday Morning Report – November 25, 2024

In this video I recorded on Friday, 11/22  (see link below), I address the following:

• Why, for the last 8 months, I “poo-pooed” all standard weather forecast models calling for a La Niña. It has not happened and has been one key reason, along with the stronger dollar, for the longer-term bearish market in grains;
• The 2013 analog: A cold and snowy December-January for much of the Midwest/and or eastern U.S.;
• Two weeks ago, when coffee futures were trading around $2.60 per pound, we caught wind that Brazil’s crop damage was far worse than many thought, even though the drought is breaking;
• Cocoa prices continue to soar as a recovery in the 2025 global crop is unlikely;
• What is the BestWeather Spider featured each week in our WeatherWealth newsletter? We give an example of our bearish attitude in soybeans, really since the summer of 2023 (a year and a half ago);
• What is causing the extreme volatility in natural gas prices? Yes, we have a cold winter coming, but supplies are still huge and it will take weeks to eat into inventories.