In this week's Market Movers Americas, presented by Hope Raymond:
• Agriculture markets watch for WASDE report
• BOEM planning California offshore wind lease sale by year-end
• Barge movements stall on low Mississippi River water levels
This week, US agriculture markets are watching for the Wednesday release of World Agricultural Supply and Demand Estimates from the Department of Agriculture, expecting lower corn stocks.
Market participants will closely review the October WASDE as it comes on the heels of the USDA's quarterly grain stocks report at the end of September, which showed quarterly corn stocks 148 million below the September WASDE data.
Grain and oilseed markets have experienced volatility during the war in Ukraine, and the effects of this month's WASDE will trickle down to biofuel markets, which rely on grains and oilseeds as feedstocks.
The Bureau of Ocean Energy Management recently completed its environmental review of potential impacts from offshore wind energy leasing activities in California's Morro Bay Wind Energy Area, which could bring up to 3 GW to the grid.
Now, the agency is reviewing comments from the proposed sale notice to develop the final notice and is aiming to have a California offshore wind lease auction by the end of the year.
Finally, historically low Mississippi River levels are disrupting barge movements below Baton Rouge.
Delays could impact seaborne dry bulk shipments of coal and grain as a chokepoint emerges upstream of New Orleans.
The United States Geological Survey stream gauge at Baton Rouge shows water levels around 5 feet -- less than half the year-ago level above 11 feet.
I'm Hope Raymond. Thanks for kicking off your Monday with S&P Global Commodity Insights.