Heat reigns in the corn belt of the USA, and rains have passed in other exporting countries

Traders' attention is focused on the weather in the US Midwest, where heat and drought are hurting soybean and corn crop potential. Scattered rains fell in Canada, Ukraine, the EU and Australia, replenishing soil moisture reserves.

Hot and mostly dry weather persists in the US Midwest . During the weekend, slight precipitation is expected there, especially in the eastern regions, and separate showers are expected next week, but significant precipitation is not forecast in the central regions of the "corn belt". Lowering the temperature from 30-33 ^o C to 28-30 ^o C will not help soybean and corn crops, which now need moisture for development.

In the Southern and Northern Plains of the United States, more intense rains are falling, which are promoting the development of soybean and spring wheat crops, but delaying the harvest of winter wheat. Next week, temperatures are expected to drop and another batch of precipitation is expected, especially in the northern regions, but the front will begin to move towards the Canadian prairies.

The Canadian Prairies have had several weeks of rain that will continue to improve spring wheat and canola crops.

In southern Brazil, rainfall has improved prospects for the winter wheat harvest, although moisture deficits remain in the center. In the central regions, harvesting of saffron corn has begun, and in the state of Mato Grosso, the heat persists at 30-33 ^o C, and there was no significant precipitation in May-June.

Argentina is experiencing drought, which is why the Buenos Aires Stock Exchange (BAGE) lowered its forecast for corn production by 2 million tons to 34 million tons, while the USDA estimated it at 35 million tons in June.

In Australia , major agricultural regions have received rain in recent weeks, including Western Australia, Victoria, South Australia and southern New South Wales, but drought remains in central and northern New Wales and Queensland, with grain and oilseeds production forecasts down again .

Northwestern Europe , particularly in France and Germany, received rains that will improve the condition of spring crops, although local agencies continue to reduce forecasts for the production of spring barley and corn. Next week, several fronts will pass over the continent, bringing rains that are favorable for planting spring crops.

There were showers in some places in Ukraine , but in the central and western regions the amount of precipitation was not enough for the normal development of corn, spring barley and rapeseed crops. Rainfall is also expected in the next 7-10 days, which, against the background of a temperature of 25-26 ^o C, will promote plant vegetation.

In the eastern regions of the Russian Federation and the Volga region, there is still a deficit of precipitation, which worsens the condition of spring wheat and barley crops, so analysts are lowering their production forecasts.