Weather in Argentina remains unfavorable for soybean and corn crops, while rainfall is sufficient in Brazil

This week Argentina experienced heat of 30-35 ^° C with little rain, adding stress to early crops and preventing the completion of soybean and corn plantings. During the weekend, new showers will pass in the country (mainly in the north), and the temperature will drop to 25-30 ^o C, and the amount of precipitation will decrease next week, which will further worsen the conditions for sowing and crop development.

As of December 7, 37.1% of the planned 16.7 million hectares were planted with soybeans in Argentina (+8% for the week, -20% for the year). 23% of soybean crops are in poor condition (16% a week ago and 1% last year), 66% in satisfactory condition (69%, 21%), and 11% in good condition (15%, 78%). If the drought does not subside within a month, it will not be possible to sow the planned areas in some regions.

On the specified date, 7.3 million hectares or 32.7% (+7.3% for the week) of the planned areas were sown with corn, which is 400 thousand hectares or 6.8% lower than last year's pace. 18% of crops are in good condition (15% a week ago and 85% last year).

At the same time, the drought allows farmers to actively harvest wheat. On December 7, 4.5 million tons were threshed from 42.1% of the area with a yield of 1.88 tons/ha. Due to the lack of rainfall, the forecast for wheat production in Argentina has been reduced to 12.0 million tons compared to 22.4 million tons in 2021/22.

Short rains have passed and will continue next week in the north and center of Brazil . In the south, the intensity of precipitation should increase, which will improve the condition of corn crops, which are under stress due to a lack of moisture. Soybean crops across the country are in much better shape.

In the Midwest and the US Plains, weather conditions with normal temperatures and sufficient precipitation in the form of snow favor the development of winter wheat crops. During the week, rains will replenish soil moisture in the Central and Southern Plains, but in the southwestern regions, precipitation is not yet sufficient to overcome the effects of the drought.

In Ukraine this week, precipitation in the form of snow stopped the harvesting of corn again, and new snowfalls will take place at the weekend. Conditions will improve next week and dry and frosty weather will allow harvesting to resume. Corn is only 60% threshed, so crop forecasts are down and the market is awaiting today's USDA crop estimate.