The lack of precipitation in Russia and Argentina maintains stock prices for wheat and corn

Now, traders are confined to Argentina and Russia, where the lack of rainfall delays sowing of soybeans and corn and worsens the condition of winter wheat crops. Within a week of rains in these areas are not expected to support prices for wheat and corn at a high level. Improving weather conditions in the United States and Brazil eased the pressure on the markets so if in Argentina for two weeks the rains, the prices of soybean and corn will decrease.

a few showers passed in Argentina last week helped to speed up North. According to the exchange BAGE soybeans planted 48,2% planned to 17.2 million hectares (49.2% 2019р), sunflower – 100% or 1.4 million hectares, corn – 35% of the planned 6.3 million hectares (48.7 per cent in 2019), and the wheat collected at 40% of the space compared with 46.1 per cent a year ago on this date.

In the North of the country during the week will be heavy rains, but in southern and Central regions, the moisture deficit will increase.

Brazil has almost completed sowing soybean and corn, but the rainfall last week was not sufficient for the development of crops and crop formation. Over the next 7-10 days meteorologists predict heavy rains throughout the country that will have a positive impact on crops.

According to experts, due to the high internal prices in the current season, the sowing area of corn in Brazil will increase by 4% to 19.8 million hectares, and soy – 3.4% to 38.8 million hectares.

Recent precipitation in the form of rain and snow in the regions of winter wheat production in the US and the EU have improved the condition of crops and prospects for the future harvest. In the Midwest, drought conditions persist and water deficit, and during the week of rain there is expected.

the Attention of traders confined to Russia, where the drought on parts of the crops have not received the winter wheat seedlings, and of the crop is in poor condition. In the southern regions are major producers of winter wheat, during the week will remain strong moisture deficit.

Ukraine weather favors the development of winter crops. Next week precipitation in southern areas, some restores soil moisture reserves.

North Africa received good rains that will help the winter wheat crops and development of pastures. In the past year due to good rains and good pasture condition decreased imports of coarse grains for animal feed.

In Malaysia and Indonesia began and was ongoing seasonal monsoon rains, which improve the prospects for a crop of palm trees and production of palm oil, which in recent months has declined due to the shortage of precipitation.