Weather in Australia and the United States continues to determine wheat price trends

Heavy rainfall in eastern Australia, which delays wheat harvesting and can reduce protein levels in the grain, has led to a sharp speculative increase in world wheat prices. Dry weather forecasts for winter wheat growing regions in the United States increase concerns about the fate of the future crop. In South America, the weather contributes to the development of soybean and corn crops, as well as wheat harvesting. The rains that have come to the Black Sea countries will improve soil moisture on winter wheat crops.

In the eastern part of Australia, precipitation will decrease by the weekend, and from next week dry weather will reign, which will speed up harvesting.

In the Southern Plains and southwestern United States, dry weather increases stress on winter wheat crops. No significant precipitation is forecast for the next 7-10 days, but the temperature will exceed normal.

In the Midwest of the United States, dry weather will allow you to complete harvesting of soybeans and corn without loss.

In the Black Sea region this week there was light precipitation in the form of rain and snow, but they were insufficient to improve soil moisture on winter crops. Over the next 7-10 days, heavy precipitation is expected there, which will improve the condition of crops, which will be facilitated by an increase in temperature to 8-12 ^OhS.

In Brazil, the weather contributes to the development of soybean and corn crops, especially in the central regions, where heavy precipitation continues. In the southern part of the country, the amount of precipitation is less, which allows you to continue harvesting wheat.

In Argentina, there was also light precipitation, which will increase next week, which will reduce dry phenomena on soybean and corn crops.

Graintrade

Tags: corn, prices, soybean, wheat, crop condition