The weather in Argentina remains unfavorable for the development of soybean and corn crops

A cold front that arrived in Argentina last week brought some relief from the heat, but did not bring enough rain to improve the condition of soybean and corn crops in the main growing areas. Next week, heat is expected at 23-32 ^o C and slight precipitation, which will not be able to reduce drought stress.

As of January 11, 89.1% of the planned area was sown with soybeans in Argentina. According to the estimates of the Rosario Grain Exchange, almost 500,000 hectares remain unsown with soybeans due to unfavorable weather. And as a result of the biggest drought in the last 60 years, soybean production in the country may drop by 25% to 37 million tons.

Experts of the Grain Exchange of Buenos Aires reduced the forecast of soybean production in Argentina in the current season to 41 million tons compared to 48 million tons according to the initial forecasts. They also reduced the estimate of corn sowing area in FY 2022/23 to 7.1 million hectares compared to 7.3 million hectares according to previous forecasts. However, they left the estimate of corn production at the level of 50 million tons. As of January 11, 83% of the planned areas were sown with corn in the country.

In the central and northern regions of Brazil, the weather favors the filling of soybeans and the accumulation of soil moisture reserves on the eve of the planting of saffron corn. At the same time, rainfall deficits are being felt in the south, raising concerns about the fate of soybean and corn crops in southern states.

Rainfall is forecast to increase in the south during the week, mainly in the state of Paraná, while dry conditions will persist in Rio Grande do Sul.

In the U.S., winter wheat growing regions are experiencing warm weather with precipitation, which is improving the outlook for the upcoming crop, especially given the increase in acreage according to the latest USDA report. During the week, there will be showers in the Central and Southern plains, in particular in arid areas in the southwest, and temperatures will be -8...+1 ^o C, which will exceed the norm.

The severe frosts that have come to the Russian Federation will not damage winter wheat crops, as the fields are mostly covered with a high layer of snow.