Veles Weekly Report Archive
NQH2O up $21.52 or 2.62% to $842.38. Various signals of price stabilisation. Near term volatilities converging between index and futures providing more indications of
price levelling. WaterBanks are
a tool for climate resilience. La Nina could dash hopes of rain this winter. Monsoon promises much needed rain in short term in parched West. Farmers and ranchers in Utah have cut water use by 70-75%. Historical data no longer a reliable guide to future conditions.
NQH2O futures premium reduced from $20 to $6. CA Diamond Valley lake which is an emergency storage reservoir is 80% full. Drought caused a 13% reduction in Almond production. Massive water recycling proposal could help relieve drought conditions.
NQH20 up $2.21 or 0.26%. Water Risk likely to be 3 times Carbon Risk.
NQH2O price eases by $18.61 to $839/AF. Biden Infrastructure Bill to help water storage and drought..
85,44% of CA in Extreme Drought. NQH2O down $0.94 to $857.61. July futures at $60 premium.
Western US driest in 1200 years. December future offer $128 below July Future bid.
Light rain possible in N CA. Lake Mead water conservation ICS project working. NQH2O Sep Futures offer $35 below the July bid price.
The First Water Price Curve is Developing. NQH2O down $10.29 to$856.71. Water Allocations cut from 5% to zero.
Central Sierra Mountain snow has all melted. SW US soil driest since 1895. Wildfire Alert. NQH2O at $867.
NQH2O takes an $8.00 downward breather this week to $869.36 but still on course to $1070. Both Tulare and North Sierra Precip Indexes 2nd driest on record
Extreme drought conditions now encompass 73.31% of CA. NQH2O hits new all time high at $877.36
NQH2O up a further $8.53 to a new high of $877.05. Futures premium to index decreased by $40. Central Valley April Rainfall at 17% of average
NQH2O at New All Time High of $868.7 up73.8% Year to Date . Technical analysis indicating next level could be $1070
CA Governor declares drought emergency in 2counties, NQH2O up $40 to $831.97, light rain in week ahead
Snow Water Equivalent (SWE) at 37.33%of 20 year average
H2O Futures trade at a high $820 for the week. Sierra Snowpack well below average. Reservoir storage also worryingly low.
NQH2O up 12.57% to $772.10. DWR snow survey is disappointing.
DWR Issues Allocation Reduction for the State Water Project. NQH2O up 29.52%
The March Futures Contract has settled at $529.58. With Aprils contract now the front month, will we see if the influence of summer irrigation deals effect NQH2O and the Futures.
California see’s some much needed precipitation. How will this effect drought conditions in the state.
Lake Oroville at only 38% capacity. 2021 looks to be the 3rd warmest on record.