Weather in Brazil and Argentina remains favorable for the future harvest of soybeans and corn

For the third month in a row, Brazil and Argentina have been experiencing favorable weather for soybean and corn harvests, and the precipitation forecast for the coming weeks will further improve crop prospects.

In Brazil, especially in the central states, heavy rainy season rainfall has resumed. Next week, a cyclone from Argentina will bring rain to the southern states. This weather is favorable for flowering, soybean filling and development of the first crop corn. According to forecasts, the soybean harvest will amount to 169-172 mln tonnes, compared to 153 mln tonnes in MY 2023/24. Harvesting of soybeans in the country will begin in the second half of January, which will increase pressure on world prices.

In the Western and Northern regions of Argentina this week were scattered showers, but in the Central and southern regions of precipitation was less, but low temperatures are holding back the loss of soil moisture. Next week will be a new wave of precipitation, after which the dry weather will accelerate the harvest of wheat, which is scheduled to be completed by January. Rosario Grain Exchange increased the forecast of wheat harvest in MY 2024/25 from 18.8 to 19.3 mln tonnes, but left the forecasts of corn and soybean production at 50-51 mln tonnes and 53-53.5 mln tonnes, respectively. Experts believe that the soybean and corn crops are in good condition due to favorable precipitation in November and December.

Snow fell in the Midwest and Plains of the United States this week, but temperatures are expected to rise in the near future. Next week in the Northern regions of the cyclone will bring frost, but they will be short-lived and will not threaten the winter crops.

Rains in the East of Australia improved the conditions for the development of sorghum and cotton, but delayed the harvest of wheat and canola. Next week, dry weather will speed up the harvest.

In Ukraine, precipitation in the form of snow and rain replenished soil moisture reserves. Warming and a new wave of scattered rains are expected next week across the country. For a good harvest, much more rain is needed, especially in the south and east of the country, where dry conditions have persisted since the fall.

Tags: corn, Brazil, soybean, crop condition