Continued rainfall in the US and dry weather in Argentina and the Black Sea region will affect prices this week

Heavy rains this week across the U.S. wheat growing region eased drought conditions in some areas and replenished moisture reserves ahead of spring wheat planting. Additional precipitation and ^temperatures in the Midwest are expected next week, helping to speed up spring crop planting.

Most of the Central and Southern Plains have seen rain this week, which will continue into the weekend, but precipitation next week will be less and temperatures will drop to 0-7 ^° C, so moisture loss will not be as severe.

Rainfall has eased in central and southern Brazil this week, allowing for faster soybean harvests and safrinha corn plantings, but heavy rainfall in the north is hampering harvests and plantings, as well as grain shipments to ports.

Rainfall in southern and central Brazil will increase next week, which will positively affect the development of corn crops. Rainfall in the next 3-4 weeks (before the start of the dry season in April-May) will be critical for the harvest.

Argentina has seen light rains this week, but not enough to improve the corn and soybean crops. This week’s rainfall has been much less than forecast, with additional rain expected only in the north over the weekend.

Limited precipitation is forecast for the country next week, but moderate temperatures of 20-25 ^° C will curb moisture loss and reduce stress on crops.

According to the Buenos Aires Grain Exchange, Argentina’s first crop of corn has been harvested on 7.2% of the area, and the production estimate remains at 57 million tons, compared to 50 million tons last season. The country’s soybean crop in good or excellent condition increased by 1% to 30%, down from last year.

Productive rains are falling in the Mediterranean and Spain. They continue to replenish moisture reserves and improve crop prospects. A new wave of precipitation is forecast in France and Germany, which, against the backdrop of rising temperatures, will allow for an acceleration of sowing.

In the Black Sea regions, dry weather without precipitation is forecast in the coming days, but with low temperatures, which will reduce soil moisture losses and allow the sowing of spring crops to begin. Currently, soil moisture reserves are uneven, and more stable precipitation will be needed in the coming weeks to start the growing season of crops.

Heavy rains have fallen across southeastern Australia in recent days, helping to increase soil moisture for cotton and sorghum. Forecasters expect significant rainfall in March to help build moisture ahead of the start of winter crop planting.

Tags: Ukraine, Brazil, EU, Black Sea region, USA, crop condition, Argentina