The precipitation deficit in Argentina and in the Eastern United States in the near future will affect the price of grain

Traders closely watching weather conditions in Argentina and in the South-Western United States, where there is a deficit of moisture, which supports the price of wheat, soybeans and soybean oil at a high level.

reducing the amount of rain in Brazil accelerated the rate of harvest of soybeans and corn planting of the second crop, which strengthened the pressure on the world price of corn.

In the regions of cultivation of winter wheat in the Southern and Northern plains of the United States within 3-5 days will be heavy rains and snow, which will reduce the arid conditions in the West. Most of the Western States of the country since the summer of suffering from a drought, so the long-awaited precipitation will improve the condition of winter crops and will contribute to the sowing of spring crops. The amount of precipitation in the Northern plains will be higher than in the South, that makes up for the lack of moisture.

In corn belt States of the Midwest precipitation in winter was higher than normal. And the rain will be there in the next 5-7 days, replenish soil moisture before sowing soybeans and corn.

heavy rainfall in Brazil in recent months has improved soybean yields, however, has delayed the harvest, therefore, in some regions there is a risk of deterioration of soybean. Dry weather last week allowed to accelerate the corn second crop. As of 5 March soybeans in the country collected by 37.6% of the area (52,5% a year ago), and the largest state producer of Mato Grosso – in 73,3% (92% a year ago). The increased rainfall in the Central regions in the next 7-10 days will again slow down the harvesting of soybean, however, in the southern regions precipitation will be less.

In contrast to Brazil, where there are powerful rains, Argentina continues to suffer from drought. As a result, experts of the stock exchange of Buenos Aires (BAGE) yesterday reduced the forecast of the corn crop in the country by 1 million tonnes to 45 million tonnes and soy by 2 million tonnes to 44 million tonnes In the Central regions within 5-7 days will be moderate rain, which will contribute to the content of soybeans and corn, but in the southern regions precipitation will be negligible. The country began to collect corn, which is already threshed 3.4% of the area.

In the EU, Ukraine and Russia during the week will be heavy rainfall in the form of snow and rain that replenish soil moisture and improve the prospects of the harvest of grains and oilseeds in the new season.