Favorable weather in major grain exporting countries and forecasts of reduced precipitation in Ukraine will increase pressure on prices in the coming weeks

Favorable conditions for the completion of the harvest in the Northern Hemisphere and the start of the sowing campaign in South America are creating additional pressure on grain and oilseed quotations in the coming weeks.

The US has been experiencing warm weather this week with occasional showers, which have delayed harvest somewhat but have improved conditions for planting and developing winter crops. Dry and warm weather is forecast for next week, allowing for faster harvesting of soybeans and a record corn crop without losses.

Seasonal rains have begun in southern and central Brazil, helping to germinate early corn and accelerate soybean planting. Heavy rainfall is forecast for the next 7-10 days, supporting crop development while also putting pressure on soybean and corn prices. If the favorable weather continues, farmers are implementing plans to expand planting areas, boosting yield potential.

In Argentina, soil moisture levels remain adequate ahead of soybean planting, and conditions for corn germination are considered good. Forecasts indicate rising temperatures and intermittent rainfall, which will accelerate the start of active planting.

Southeastern Europe has seen heavy rains over the past week, which will help store moisture for winter crops but will temporarily hamper the harvesting of corn and sunflowers. Dryer and warmer weather is expected next week, allowing for faster field work.

Ukraine is experiencing prolonged rainfall this week, delaying the harvesting of sunflower and soybeans, and in the west of the country, reducing crop quality and delaying the sowing of winter wheat. At the same time, in the east, rainfall remains insufficient, so sowing there is also delayed due to dry conditions.

Russia is completing the harvest of spring wheat and a record oilseed crop. Winter sowing in the southwestern regions is taking place under favorable conditions, and additional precipitation next week will accelerate the pace of work.

Australia is in the midst of a period of drier weather. Some regions growing winter wheat and canola continue to struggle with drought, while others are seeing acceptable conditions. The country needs consistent rainfall as crops enter the grain-filling phase, but the forecast is not predicting sufficient moisture.

In China, weather remains mostly favorable for corn and soybean harvests in the northeast, while in central regions, regular rains are facilitating the sowing and germination of winter wheat and rapeseed.

Tags: soybean, USA, Argentina, Australia, China, corn, Brazil