Favorable weather in the US, South America and Europe will reduce the pressure of weather factors on prices

Favorable rainfall has occurred in the main grain growing regions of Brazil, Argentina, the US and Europe, improving the potential for future harvests and reducing the impact of weather factors on agricultural prices. Markets will receive the long-awaited global grain balances from the USDA today, which will have the greatest impact on quotes.

Warm weather continues in the Midwest and Plains with above-normal temperatures and occasional rain, helping to complete the soybean and corn harvest (which analysts estimate is 95% harvested) and to develop winter wheat crops. A front is expected next week to bring rain and lower temperatures, before increasing precipitation in the north later.

Several fronts have passed through Brazil this week, bringing heavy rains from south to north, and another front will move into southern areas this weekend, before moving north into central Brazil early next week, where soybean planting is being completed under favorable conditions, and additional precipitation will continue to show the state of the crops.

Most of Argentina remains in a favorable position for soybean planting, which began in November. Soil moisture levels are high due to heavy rainfall, and the region has seen additional showers this week. Less rainfall is expected next week, allowing for increased planting rates and accelerating the development of sunflower, corn and soybean plantings. The good weather has helped produce a high winter wheat crop, although prolonged rains have increased disease rates.

Scattered rains continue across Europe , and will continue into next week as a cold front with rain moves in. Weather conditions are favorable for the development of winter crops, and the harvest of late crops is almost complete.

Dry weather has set in in Ukraine , allowing us to complete the harvest of sunflower and soybeans and accelerate the harvest of corn, as well as sow the planned areas with winter crops.

According to the Ukrhydrometeorological Center, agrometeorological conditions in October and the first decade of November were favorable for the germination and development of winter crops. Despite the intense precipitation, some eastern regions of Ukraine still remain arid, which negatively affects the development of winter wheat. Forecasts promise a decrease in temperatures and additional precipitation across the entire territory of Ukraine next week.

In the center and south of the European part of the Russian Federation, an excess of precipitation of 150-200 mm above the monthly norm was recorded in October, which improved the condition of winter crops and allowed the planned areas to be sown.

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