Traders' main focus is on the weather in South America and Australia, where conditions are conducive to crop development

In the Northern Hemisphere, under favorable conditions, harvesting and sowing of winter crops are being completed, so the main attention of traders and analysts is focused on the weather in South America and Australia.

The Midwest and Plains of the US have seen some good rainfall this week, with several more powerful fronts expected next week, bringing additional precipitation and lower temperatures.

Field work is almost complete, so the rains will improve the condition of winter wheat before the onset of frost and the cessation of vegetation.

Precipitation will also occur over most of Europe next week, with some snow in the east. Winter crops are in good condition before wintering.

In Ukraine, corn harvest is delayed due to precipitation in the west, and a new wave of precipitation is forecast for next week, but without snow and with temperatures above freezing, which will continue to hold back harvest. The condition of winter crops is improving due to precipitation, including in southeastern Ukraine, where there was a severe drought in the summer.

In the southwest of the Russian Federation, some winter wheat growing regions continue to suffer from drought, but no significant precipitation is expected next week.

This week, a front with heavy rainfall moved from central Brazil to the north, and next week, an additional front is forecast to move from north to south and cover central Brazil. However, southern Brazil and Argentina will see significantly less rainfall. The planting of the first crop of corn and soybeans in Brazil is being completed under favorable conditions, so everyone will be closely monitoring the amount of rainfall in December, which will affect the development of the crop.

This week, a front with scattered precipitation passed through Argentina, which maintains good soil moisture during soybean planting and promotes corn and sunflower germination.

Dryer weather with isolated showers is forecast for next week, which will allow for an increase in the pace of sowing, but may raise concerns about sufficient rainfall in December, which is needed for crop development. Dry weather will contribute to a good wheat harvest.

In Australia, rain this week has been mostly in the west, with only isolated showers in the east. As winter wheat and canola continue to mature and yields increase, the rains are likely to be beneficial for these crops, as well as providing moisture ahead of cotton and sorghum planting.