Hot weather forecasts in Western Europe and the United States may support grain prices

Source:  GrainTrade
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As the harvest matures, weather factors increasingly affect prices, and a new wave of heat in the United States and Europe could damage crops and support grain and oilseed prices.

In Western and Southern Europe, dry and hot weather prevails, which does not promote the development of late crops, but accelerates the ripening of winter wheat and the beginning of its harvest. This weather will last for another 3-5 days, and then there will be rain, which will reduce droughts.

In the United States this spring, hot weather waves are replaced by heavy rainfall, which contributes to the rapid development of crops and ripening crops. This week, temperatures in the main agricultural regions have dropped and fallen, but next week the heat will return to 30-36 oC, which will persist until the end of June, which may adversely affect late soybean and corn crops.

In the US corn belt, heavy rainfall with periodic hot periods contributes to the development of soybean and corn crops. Heavy rains have hit the southern and central plains of the United States, but the rainfall is below normal, and from next week until the end of June it will be hot again. There have been showers and thunderstorms in the Northern Plains, and the temperature will rise sharply on Monday, which will contribute to the formation of the crop against the background of good soil moisture.

As of June 12, winter wheat in the United States was harvested on 10% of the area (4% last year), but spring wheat was sown on only 94% of the area (100% last year).

In Canada, heavy rains have been falling all week, which have already become excessive, especially in the eastern areas, where floods have had to replant some of the spring crops. However, they improved the condition of crops in the southwestern part of the prairies, where drought prevailed.

In Ukraine, moderate temperatures with intermittent rains, which will take place next week, contribute to the development of crops. Soybean and sunflower sowing is coming to an end, but the area under sunflower will decrease by 41% to 4.6 million hectares compared to last year, while under soybeans they will remain at last year’s level – 1.2 million hectares. In the southern and eastern regions, where mostly sunflowers were grown, fighting continues and the occupiers continue to steal grain, so farmers refuse to sow.

In Russia, weather conditions contribute to the formation of a good harvest. Sunflower sowing areas increased by 3.5% compared to last year to 9.4 million hectares, although they were projected at 9.2 million hectares.

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