Moisture deficit in Argentina and Russia raised concerns regarding the fate of the crops
Traders continue to watch weather in Argentina and Russia, where there is a shortage of rainfall, which adversely affect the development of soybeans, corn and winter wheat.
Ukraine and the USA after the recent rains, established dry weather, which will contribute to sowing winter crops and the end of the harvesting of later crops.
In the Midwest US dry and warm weather in the next 7-10 days will speed up the harvesting of soybeans and corn, and minimizes crop losses. Minor periodic rains will contribute to the development of winter crops.
In the Northern Plains and in the Delta region will remain dry weather with little precipitation that will significantly improve the condition of winter crops.
In Brazil after the recent rain has accelerated sowing of soybeans and corn. The pace of sowing has already reached annual averages. In the Northern and Central districts the rainfall is much better than in the South, so experts are left unchanged, the forecasts of expansion of sowing areas, which will allow you to collect 133-133,8 million tons of soybeans compared to of 124.8 million tons last season.
Dimensions StoneX Group increased compared to previous estimates forecast soybean production in Brazil in 2020/21 MG by 0.9 million tonnes to 133,5 million tons and corn – to a record 111.1 million tonnes, though experts Conab in October estimated the corn crop 105.2 million tons.
In Argentina due to dry and warm weather the wheat is gathered 9% of corn planted 31% of the area, and soy – 4%. Within 5-7 days precipitation is not expected, which will increase the soil moisture deficit on crop acreage, and in 7-10 days the country will pass small rains. The experts have lowered the forecast corn production to 45-47,5 million tons compared with the USDA projected in October, 50 million tons.
In the southern and Central regions of Russia there is a shortage of moisture for crop acreage. During the week there will be slight rain and after 7 days the temperature will fall to -2..-4oC at night and 4-6othe day that will stop the development of crops.
In Ukraine, dry weather contributes to the harvesting of corn, especially in the Northern and Western regions. Corn collected on 66% of the areas, soybeans by 88%, the sunflower harvest nearly complete. The moisture deficit in the southern regions hinders the development of winter crops, especially given the predicted next week, the decrease in air temperature.span>
In Australia, the coming weeks will be powerful rains that will stop the harvest of wheat, which has just begun. Forecasts of wheat production remains record high, and excessive precipitation can reduce grain quality and hinder harvest.
