Commodities Market Impact Weather

OMAHA (DTN) -- Continued periods of rain for the Midwest through the end of the week and rain for late week in Australia are the key weather items for the commodity trade's attention Wednesday.

ADDITIONAL RAIN FOR MIDWEST

The DTN Ag Weather forecast calls for additional rain chances across the Midwest through the end of the week. Most areas remain in favorable conditions for filling corn and soybeans. A notable exception will be the Great Lakes, where drier conditions are indicated.

MIXED SOUTHERN PLAINS RAIN

The Southern Plains will have periods of showers through the end of the week except the far southwestern areas. Showers will benefit filling row crops. West Texas continues to be hotter and drier with ongoing stressful conditions for cotton.

FAVORABLE NORTHERN PLAINS CONDITIONS

In the Northern Plains, widespread scattered showers are expected through Saturday before a few days of dryness occur. More showers are expected in the middle of next week. The rotating periods of dryness and showers should benefit both the harvest of wheat and filling of row crops.

BENEFICIAL DELTA SHOWERS

Moderate rainfall occurred in the Delta Tuesday, easing recent dryness and benefiting filling soybeans and cotton. Widely scattered showers are expected through the end of the week, followed by drier conditions. Portions of the Southeast have seen favorable rain as well during the past week.

PRAIRIES RAIN CHANCES

In the Canadian Prairies, eastern areas have possible heavy showers through Thursday, followed by a drier trend over the weekend. Southwest sectors of the region are drier. Shower chances increase during the middle of next week.

RECORD BRAZIL CORN HARVEST

The effect of favorable weather during the Brazil safrinha corn crop season continues to be indicated. Latest estimates from the Brazil agricultural agency call for a new record corn harvest of more than 102 million metric tons.

SHOWERS FOR EUROPE

Showers are indicated across Europe's crop regions through the weekend. Better rainfall over the past six weeks helped wheat production exceed earlier estimates.

VARIABLE BLACK SEA REGION SHOWERS

In the Black Sea region, light rain is in store for Ukraine through southern Russia during this week. The light moisture is unfavorable for row crops. Farther east, portions of Siberia have moderate to locally heavy rain which will benefit spring wheat.

POSSIBLE LATE WEEK AUSTRALIA RAIN

Across Australia, a system brought much-needed rain for developing wheat and rapeseed in eastern areas late last week, but eastern growing areas, especially Queensland, could use more moisture. A system moving into southern Australia will spread showers further north for Friday and Saturday and may be a benefit.

Bryce Anderson can be reached at bryce.anderson@dtn.com

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