Favorable conditions in the main grain exporting countries reduce weather pressure on prices

Forecasts of new precipitation and lower temperatures in the US corn belt and a decrease in the intensity of precipitation in Europe next week will be the main factors influencing global agricultural markets.

A rain front moved across the U.S. Corn Belt this week, reducing moisture deficits in dry areas and improving conditions for soybean and corn crops. Next week, a new front will bring rain and moderate temperatures again, which will help spring wheat, soybeans and corn.

The Central and Northern Plains of the United States received sufficient precipitation, while the heat persisted in the Southern Plains, which adversely affected crops.

The Canadian Prairies will see patchy rain throughout the week, which, along with mild temperatures, will improve the condition of spring wheat and canola crops, especially in dry southern Saskatchewan.

Much of Europe received heavy rainfall all week, which reduced the impact of the heat on soybeans and corn, but delayed the harvest of early grains and oilseeds. Next week, mild temperatures with no precipitation will help complete the harvest of wheat, barley and canola.

Harvesting continues in Ukraine, but heavy rains are delaying work, although they are helping the development of soybean, corn and sunflower crops. Next week, temperatures will rise to 30-32 ^o C, which, against the background of a lack of precipitation, will speed up harvesting. As of August 2, 16.6 million tons of grain were threshed from 3.7 million hectares or 35% of the area.

In the south-west of the Russian Federation, dry and hot weather accelerates harvesting, but has a negative effect on sunflower and corn. In the east of the Russian Federation, rains will pass during the week, favorable for spring wheat crops, although part of the crops was irreversibly damaged by the drought at the beginning of summer.