Dry weather is helping speed up harvesting and planting, but rainfall remains deficient

In general, the weather is favorable for the harvesting of late crops and the sowing of winter crops, with the exception of Ukraine and Russia, while rainfall is expected in Brazil, which also reduces speculative pressure on prices.

Dry and hot weather has settled in the US Midwest, which is helping to accelerate the harvesting of corn and soybeans, as well as the sowing of spring wheat. Forecasts show that no precipitation is expected next week, and it won't be until late next week that a cold front moves through with more precipitation and a drop in temperatures.

In the Central and Southern Plains region of the United States, more significant precipitation is expected, which will help improve the condition of winter crops, but will slightly delay harvesting.

Forecasts of the first rains in the Central part of Brazil indicate that the rainy season is approaching, which will accelerate the planting of soybeans and first-crop corn. Planting conditions are very favorable, except in the state of Rio Grande do Sul, where there have been problems with flooding.

Soybean planting is also accelerating in Argentina amid dry weather, with more rain expected next week. Soil moisture reserves after last year's historic drought need more rainfall, but El Nino usually favors this country by adding more rainfall throughout the season.

In most regions of Europe, soil moisture is favorable for sowing and germination of winter wheat. Additional showers are expected next week, which will also improve prospects for the 2024 wheat and canola crops.

Ukraine and the southwestern part of Russia in the Black Sea region will experience hot and dry weather with limited precipitation. Moisture reserves in the soil decrease to critical levels, which delays sowing and growth of winter wheat. If there is no abundant rainfall in the next 2-3 weeks, the potential for wheat harvest in the new season will be reduced. Dry weather contributes to the drying of corn and soybeans and accelerates their harvesting.

Forecasts show light rain is possible late next week, but developing crops need more moisture to root successfully before the dormancy.

Mostly dry weather continues in Australia with high temperatures significantly above normal. This creates difficulties in the filling phase of wheat and canola, as soil moisture continues to decrease. A stronger cold front could move through next week, bringing the heat down temporarily, but no heavy precipitation is forecast outside the southeast coast. The forecast is disappointing for wheat and rapeseed.