Pressure on Soybean and Corn Prices Due to Rainfall Forecasts in Argentina and Brazil

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Rain is coming

After a long period of dry and hot weather, most of Argentina will experience heavy showers over the weekend and temperatures will return to normal. Another front next week will bring more rain, which will improve crops suffering from a three-week drought.

It will be possible to plant corn

The central regions of Brazil will see heavy rains in the next 3-4 days after a week of dry weather, allowing the planting of second crop corn, whose rates are significantly higher than last year. Temperatures will reach 30-34 o C again next week, which will accelerate the harvest of the first product and the planting of the second product.

The weather favored wheat

The U.S. Midwest and Great Plains will continue to enjoy warm weather, with rain and snow expected throughout the weekend. Temperatures will drop to normal next week, but there will be no serious rainfall. Rains in the last two weeks have greatly improved the moisture reserves of the winter wheat crop, especially in the southwestern states, and the crop condition is much better than last year.

Mintec Global

Rainy weather made wheat happy

In Europe, warm weather with periodic precipitation is maintained, which contributes to the development of winter crops and the accumulation of moisture before planting spring crops. Next week will see rainfall in the southern regions, which will improve the condition of wheat crops in Spain and Italy.

Ukraine’s weather is suitable for planting

Ukraine also has hot weather with temperatures reaching +5…+10 o C, in some places up to +15 o C, and periodic rains increase the moisture of the soil. Next week temperatures will drop to -3…+3 o C, which will not allow wheat crops to resume vegetation earlier than usual.

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