Heat in the US and Europe and favorable conditions in Ukraine will benefit the harvest of late crops

Traders’ main attention is now focused on the weather in Europe, where another heat wave will continue to worsen the condition of corn crops and other late crops.

Rain is expected across Europe on Sunday and Monday, but in France, which has been suffering from drought this summer, precipitation will be limited. Next week, Europe is expected to experience another heat wave, which will cause more damage to western regions. In eastern regions, stress situations will begin to develop again after the rather favorable weather of the last week, so the potential for corn, soybeans and sunflowers will decrease. Fires are raging in Spain and France, which have already covered about 200 thousand hectares and continue to expand.

The U.S. Corn Belt has also been hit by a heat wave, but there was limited rainfall over the weekend that will bring down temperatures, although some areas will remain dry. Another front early next week could bring scattered showers, but the heat and dryness in some areas will adversely affect pollinating corn and pod-filling soybean crops.

Above-normal temperatures will prevail in the Central and Northern Plains this week, which, combined with the lack of precipitation, will negatively affect the sowing of spring wheat and late crops.

The Canadian prairies have been experiencing significantly above-normal temperatures this week and this week, but the region will see new waves of precipitation this week, boosting plant growth after a cool and wet season, but some areas in the southwest are likely to remain too warm and dry, creating stress for crops.

Last week, showers and rains swept across Ukraine and western Russia, improving the potential for corn, soybeans, and sunflowers. A new front early next week will bring even more rain. Weather conditions, with a few exceptions, are mostly favorable for reproductive corn.

Australia is likely to see rain this week and next, but El Niño is gaining strength and the weather is getting drier, which is having a negative impact on winter crops that are still growing. If this continues, the plants will be stressed by the drought as wheat and canola enter reproductive stages in a few weeks.

Parts of central China have been hit by heavy rains in recent days, but the flooding has mostly been outside the corn and soybean fields. Scattered rains will be fairly widespread over the next week, mostly benefiting both crops. Heatwaves are likely to hit the northeast next week, stressing crops in areas that haven’t had much rain this summer, but otherwise the weather is not a concern.

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