Weather factors put pressure on agricultural markets: heavy rains in the US and Europe, drought in the Black Sea region, China and Australia

North America
In the US, especially in the Midwest and Great Plains, very favorable weather conditions continue: occasional showers and thunderstorms support good condition of spring crops. Forecasts for 7-10 days predict new waves of precipitation, which reinforces the USDA's optimistic expectations for the wheat, corn and soybean harvest.

In Canada, the prairies are receiving scattered rain, although less than expected. Eastern regions are seeing more precipitation, with more showers forecast next week to improve moisture supplies. Planting is complete, but additional moisture is needed for sustained development.

South America
In Brazil, rains are moving in from the south of the country, covering the main safrinha and winter wheat growing areas, improving prospects for the second corn harvest, which has already begun in the south of the country.

Europe
In Northern Europe (particularly Germany and France), rain in May had a positive impact on the crop. In Eastern and Southern Europe, particularly in Romania and Bulgaria, weather conditions remain favorable for high yields.

Australia
Western Australia has received heavy rains, improving the condition of winter wheat and canola crops. Additional rainfall is also expected to stabilise the situation in the south-east, which has previously suffered from severe drought.

China
Central China remains in drought conditions. This raises concerns about a decrease in the wheat harvest to the lowest in the last 7 years. Harvesting will begin next week, but no precipitation is forecast. This poses risks for corn and soybeans. Only from the second half of June the probability of moisture increases.

Black Sea region (Ukraine and southwestern Russia)
Extensive rains in May significantly improved moisture reserves and the development of winter and spring crops. Cool weather somewhat restrained the growth of corn and sunflower, but warming this week is improving the situation. Farmers have been able to protect plants. Hot weather without significant precipitation is expected over the weekend, and from Monday short-term rains are possible, which will contribute to the development of crops.