Forecasts of dry weather in Brazil and the Northern plains of the United States can support corn prices

currently, the attention of traders glued to the weather in Brazil and Argentina, where the decrease in the intensity of precipitation in the next 10-14 days will become a new factor of speculative impact on prices of soybeans and corn.

In the corn belt of the USA warm weather with occasional showers contributes to sowing corn.

On the Southern plains of the United States recent precipitation improved the condition of winter wheat. The rains will be held the weekend, replenish soil moisture, and dry weather next week will contribute to the sowing of spring crops.

In the Northern plains of the United States, particularly in North Dakota, still there was no rain and the drought reduces the prospects of the harvest of spring wheat and corn. Forecast no rain for the next 7-10 days.

After heavy rains in Brazil in January, February and early March, the USDA local experts and analysts raised its forecast for the production of soybeans and corn, considering that a significant soil moisture reserves will allow to obtain a high yield, despite the delay of sowing soybeans and corn in the autumn of the second crop in the spring.

the Rains last week across the country, improved the condition of the crops of corn safrinha in the States of Mato Grosso and Minas Gerais. But projected for the next 10 days of dry weather in the Central regions can reduce the yield potential and will soon be speculative factor supporting prices.

Analysts AgroConsult increased the forecast of the harvest corn safrinha in Brazil 3.5% 78.3 million tonnes due to increased planting acreage for 7%, although reduced the estimate of yield of 4%. The forecast of soybean crop in 2020/21 G increased to a record 137,1 million tonnes, which is 8.5% higher than last year's figure.

In Argentina weekend will be moderate and heavy rain, which delayed the harvest of soybeans and corn. According to the stock Exchange of Buenos Aires (BAGE), corn collected for 12% of the area, and soy is 3.5% and the first yields significantly inferior to forecasts. Therefore, evaluation of the soybean crop was reduced from 45 to 43 million tonnes, and corn is left at 45 million tons.

In Europe, Russia and Ukraine weather conditions with low temperatures and occasional rainfall contribute to the sowing of spring crops and development of winter crops, which improves the forecasts of production and increases the pressure on prices.