UPDATE 1-Russia may increase its grain export quota

https://uk.reuters.com/article/russia-grains-quota/update-1-russia-may-increase-its-grain-export-quota-idINL1N2IG0KP

MOSCOW, Nov 30 (Reuters) - Russia may increase the size of its grain export quota planned for Feb. 15-June 30 to 17.5 million tonnes from 15 million tonnes, the agriculture ministry said on Monday.

Russia, one of the world’s largest wheat exporters, is preparing to impose the quota to stabilise its domestic market after recent price rises despite a large crop harvested this year.

The agriculture ministry drafted a resolution containing the proposal. It is due to be reviewed by the trade ministry and other officials, the ministry said in a statement.

The quota, if formally approved by the government, would be distributed among exporters based on their share of July-December grain exports.

Some livestock and other domestic consumers are calling for an export tariff on Russian wheat to push down domestic prices.

In the latest development, the Russian union of grain exporters asked the government not to introduce an export tariff, saying the export quota would be enough to ensure the country’s food security, it said on social media on Monday.

The idea of imposing an export tariff has not found much support in the agriculture ministry either. It has said that the export tariff could affect farmers, though it is yet to formally review it.

@kannbwx

22% of #Russia's recently sown #wheat crop is in poor condition, a 7-year high. But the share in good condition is not at a 7-year low, a promising sign. Russia said Monday it might increase its Feb 15-June 30 export quota by 2.5 mmt to 17.5 mmt, pressuring CBOT wheat futures.

About that drought, it's looking pretty intense!  

It is Jim!

The current La Nina that caused it is predicted to last thru the Winter....possibly thru much of the Spring of 2021.

 You can go to this link to see precipitation totals from recent time periods:

https://water.weather.gov/precip/

                              Go to precipitation, then scroll down to pick a time frame. Hit states to get the borders to see locations better. Under products, you can hit "observed" or "Percent of Normal"

Soilmoisture anomaly:

These maps sometimes take a day to catch up to incorporate the latest data(the bottom map is only updated once a week).

https://www.cpc.ncep.noaa.gov/products/Soilmst_Monitoring/US/Soilmst/Soilmst.shtml#

                      https://droughtmonitor.unl.edu/Maps/CompareTwoWeeks.aspx             

ENSO: Recent Evolution, Current Status and Predictions

https://www.cpc.ncep.noaa.gov/products/analysis_monitoring/lanina/enso_evolution-status-fcsts-web.pdf