Frost in the US and favorable weather in South America will influence the markets next week
As early as Saturday, the Arctic cyclone will bring frost and snowfall to the main regions of winter wheat cultivation in the USA for a week. Strong gusts of cold air will adversely affect crops, especially in places with a small layer of snow cover.
In the Central and Southern Plains, frosts of -20...-25 o C are expected, but heavy snowfall will protect plants, while in the southern mantle of Texas and Oklahoma, rain may lead to icing. Temperatures are even colder in the Northern Plains, and gusty winds will continue into next weekend, which will negatively affect agricultural production, particularly livestock.
In central Brazil, there will be rains for another week, although with a lower intensity, but sufficient for the development of soybean and corn crops. Plant-friendly showers will continue in the south next week. The drought-stricken states of Mato Grosso do Sul and São Paulo will see more rainfall.
Argentina is also seeing heavy rains that will continue until at least the middle of next week and will help soybean and corn crops. Weather conditions generally remain fairly good, although rainfall may decrease towards the end of next week. Experts of the Buenos Aires Grain Exchange believe that, against the background of favorable weather conditions, the soybean and corn harvest in the country will increase in 2023/24 MR, but for now they leave the estimate of the soybean harvest at 50 million tons, and corn at 55 million tons. At the same time, exchange experts Rosario's soybean harvest is estimated at 50 million tons, and corn at 56 million tons.
Recent rains in southern Europe have had a beneficial effect on winter wheat crops in Italy and Spain. Next week, new cyclones will bring additional precipitation to the region.
Frosts of -10...-20 o C have arrived in Ukraine , but in some regions the snow layer is not enough to protect plants. However, from Monday, temperatures will rise to -5...+2 o C, so there are no risks of crop damage.
