Rainfall forecasts in Argentina and Brazil reduce speculative weather pressure on soybean and corn markets

Forecasts of heavy rains in Argentina and central Brazil in the next 7 days reduce quotes for soybeans and products of its processing.

Starting from the weekend, heavy rains will pass in the central part of Brazil , which will improve the condition of first-harvest corn crops and the conditions for setting soybeans.

Southern regions will also experience heavy rain, but will not damage soybean and corn crops as the previous few dry weeks have reduced excess soil moisture. In a week, the amount of precipitation in the south of the country will decrease, and the rain fronts will move to the north and into the center of Brazil, where soybeans have already begun to be harvested.

In Argentina, abundant rainfall improves soybean and corn crop potential. Over the weekend, there will be heavy downpours in the north and west of the country, but there will be no rain in some areas. Temperatures will remain below normal throughout the week, which will reduce stress on crops in areas without heavy rainfall.

Temperatures will remain above normal in the Midwest and Great Plains throughout the week, with unseasonably warm temperatures expected in northern areas. Eastern areas will see rain and snow until the end of the week. But within a week the precipitation will end and dry weather will be established.

Fronts from the eastern Atlantic will bring rain to the north of Europe , and then they will move to the southern regions. The weather in Spain will be mostly dry until the end of the week, although wheat crops need more moisture to develop. Rainfall will also be light in Italy, but both countries may experience brief showers next week.