Rainfall forecasts in Argentina and Brazil will increase pressure on soybean and corn prices

After a long period of dry and hot weather, much of Argentina will finally see heavy showers at the end of the week, bringing temperatures down to normal. Another front next week will bring more rain that will improve crops stressed by a three-week drought.

In the central regions of Brazil, after a week of dry weather, there will be heavy rains in the next 3-4 days, favorable for the sowing of second-crop corn, the rates of which are significantly ahead of last year’s. Next week, temperatures will again reach 30-34 ^o C, which will allow to speed up the harvesting of the first crop and the sowing of the second.

In the south of the country, stronger rains will pass next week, but they will be periodic, so they will not affect the pace of field work. The threat of excessive moisture, which was observed in the fall, is currently absent in most areas.

The U.S. Midwest and Great Plains will continue to enjoy warm weather, with rain and snow expected over the weekend. Temperatures will drop to normal next week, but there will be no significant precipitation.

The rains of the last two weeks have greatly improved the moisture reserves of the winter wheat crop, particularly in the southwestern states, and the condition of the crop is much better than last year.

In Europe, warm weather with periodic precipitation is maintained, which contributes to the development of winter crops and the accumulation of moisture before the sowing of spring crops. Next week, rains will pass in the southern regions, which will improve the condition of wheat crops in Spain and Italy.

Ukraine also has warm weather with temperatures of +5…+10 ^o C, in some places up to +15 ^o C, and periodic rains improve soil moisture. Next week, temperatures will drop to -3…+3 ^o C, which will not allow wheat crops to resume vegetation earlier than normal.

Tags: corn, prices, soybean, crop condition