Forecasts of precipitation in the US and Argentina and improved weather in the Black Sea region will affect markets this week

Across much of the Midwest and the Southern and Central Plains of the United States, a sharp rise in temperatures to 10-15 ^° C has led to snowmelt and loss of moisture in the soil, so traders are focusing on the amount of precipitation in the main wheat growing areas of the United States. The region received scattered precipitation last week, and this week a new front will bring rain with snow and a drop in temperatures to normal.

Traders are concerned about dry weather in Nebraska, Oklahoma and Texas ahead of spring planting, so wheat quotes in the US are starting to rise as forecasts promise precipitation mainly in the northern plains.

The decrease in rainfall intensity in Brazil last week allowed for the acceleration of soybean harvesting, which has been threshed on more than 30% of the area (23% a year ago), and the sowing of second-crop corn, which has already been sown on 22% of the area (18% a year ago).

The optimal time for sowing corn ends on March 1, so the dry weather forecast for the coming days will allow for increased harvesting and sowing rates, although the country needs rain as soil moisture remains low for this time of year.

Scattered showers have been reported in Argentina over the past week, mostly in the northern regions, which do not have a significant need for rainfall. The rains have stabilized corn conditions, but soybean conditions continue to deteriorate. A few more showers are expected this week, but they will not be enough to improve the conditions of the soybean crops, which are in the filling stage.

Argentine farmers have already threshed more than 35% of sunflower acreage and have begun harvesting early corn crops, but the bulk sunflower harvest will take place in March in the central regions.

In most European countries (especially in the southern countries - Spain and Greece), good weather with abundant precipitation without significant frosts persists throughout the winter, which will allow spring sowing to begin with large moisture reserves.

The weather in Ukraine is improving - the frosts have receded, and next week, positive temperatures during the day and slight frosts at night are expected, which will contribute to the slow melting of snow and the preservation of moisture in the soil on the eve of sowing.

Rainfall has increased significantly in northern Australia , but the main agricultural areas in the east will only see rain this week, which will improve the condition of cotton and sorghum crops that are in the filling stage.