After the weather troubles, grain markets remain on edge.
the World grain market remains under the influence of the weather conditions. In North America precipitation were unevenly distributed, in Australia and Canada, there were 50% less than normal, and in Europe, and Argentina an excessive amount of moisture can reduce the quality and yield of wheat.
In the United States for the weekend and the next days established the cool weather with precipitation, which will significantly improve the prospects for soybean and corn. But analytical agencies have reduced harvest forecasts of corn and soybeans, as traders await the release of the August USDA report.
Experts FC Stone estimated the soybean crop at the level of reach 115.3 million tonnes, the Agency Informa Economics level 114,2 million tons, while the USDA in the July report predicted gross yield at the level of 115,9 million tons (compared to 117.7 million tons in 2016).
the corn Harvest in the U.S. is estimated FC Stone at the level of 345,2 million tonnes, and analysts Informa Economics released a forecast 351,8 mln tonnes, while the USDA's July forecast was estimated this figure in 362,1 million tonnes (against and 384.8 million tons in 2016).
Canadian prairies continue to suffer from too high temperatures and lack of rainfall, which causes significant risks to spring wheat and canola. However, meteorologists promise this week, lower temperatures and light precipitation.
due to excessive rainfall in Argentina is sown only 90% of wheat from the planned 5.2 million hectares, according to forecasts of FAS USDA will reduce the gross yield of 850 thousand tons and exports of 1.8 million tonnes compared to last season.
Precipitation in Eastern Europe, delaying harvesting of wheat and can reduce the amount of protein in wheat, but it is worth noting that the pace of harvesting better than average.
Weather in China contributes to a good harvest of corn and soybeans. In the black sea region are favorable for late crops rains in Ukraine and Russia.
the price of corn and soybeans in Chicago remain at 151 $/t 354 $/t, respectively, because the funds recently moved to trade long positions to reduce the risk of loss from trading short positions before the USDA report.