Abnormal heat in the Black Sea region and heat forecasts in Canada remain the main factors supporting prices

A cyclone moving from north to south of Europe has brought rain to Romania, Bulgaria and Moldova, as well as to northern and central Ukraine, bringing temperatures down from 38-40°C to 28-35°C and stressing soybean, corn and sunflower crops. However, in the areas where there was no precipitation, corn continues to dry, and farmers are harvesting it for silage as the cobs have not formed.

In eastern Ukraine and southwestern Russia, dry and hot weather remains unfavorable for sunflower and corn crops. According to forecasts, next week there may be rains, which will reduce stress for plants. In the eastern part of Russia, in the spring wheat growing area, periodic rains and normal temperatures contribute to a good harvest.

And in the prairies of Canada, after a long period of rainy and cold weather, it finally warmed up to 30°C. This temperature will continue next week, which will accelerate the development of canola and spring wheat. There will also be showers in the coming days, but dry conditions will remain in the Southwest.

In the Midwest, Central and southern plains of the United States, the cyclone brought showers and thunderstorms that will contribute to the formation of a good harvest of soybeans, corn and spring wheat. Next week the temperatures will rise, but the rains will reduce the heat and stress for plants.

In Argentina, after a week of dry and frosty weather, which negatively affected wheat crops, next week the temperatures will rise to normal and it will rain. The country is completing corn harvesting and the market is waiting for the final data.

In Brazil, due to dry weather, the corn harvesting rate is twice as high as last year. Currently, the grain has been threshed on 75% of the area, and local agencies are raising their harvest forecasts.

In Europe, the weather has improved, with precipitation from the northwestern regions moving to the southeast, where dry weather prevailed. This will accelerate the harvest in Germany and France and improve the condition of crops in Romania, Bulgaria and Hungary.

In Australia, the weather is favorable for the development of winter wheat, barley and canola, and next week there will be heavy rainfall.

Tags: Australia, USA, Ukraine, crop condition, Bulgaria, Argentina, corn, Moldova, Romania, Brazil, EU, prices, soybean, Black Sea region, sunseed