ABSR Research: Chart of the Day
According to the National Oceanic Atmosphere Administration (NOAA) severe to extreme drought affected roughly 9% percent of the contiguous U.S. as of the end of November. This reading derived from the Palmer Hydrological Drought Index, shows conditions have not improved from October and in fact were a little worse. About 20.5% of the CONUS fell into the category of moderate to extreme drought down roughly 1.4% from the October reading. On the flip side of the coin, severely to extremely wet conditions affected about 24% of the United States. The Palmer indices measure the balance between moisture demand (temperature evaporation) and moisture supply (precipitation). Precipitation ranks for the month of November show the Northeast, Appalachian and Southeast recorded near record rainfall. Areas of the corn belt were also above average for the month. Precipitation was below average in the Pacific Northwest along with the southern Mountain region.
Shawn Bingham, CAIA
Source(s): ABSR Research, NOAA.
The ABSR Research: Chart of the Day is a caption from our daily Agriculture Edge Market Monitor newsletter. The full report includes statistical based commentary, graphs and data for the agriculture sector including: Corn, Soybeans, Wheat, Live Cattle, Lean Hogs, and Cotton. To learn more about our agriculture marketing platform click here. To register for a FREE, no obligation 30 day trail click here.
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.