Commodities Market Impact Weather

OMAHA (DTN) -- Rain in the Plains and Midwest and still dry conditions in central Brazil are the key weather items for the commodity trade's attention Wednesday.

FAVORABLE WESTERN MIDWEST RAIN

The DTN ag weather forecast calls for drought easing in the western Midwest following the development of moderate to locally heavy rain during this week. Rain is arriving too late for corn but may benefit late soybeans. Limited freeze damage occurred with colder air.

RAIN FORMS IN SOUTHERN PLAINS

Beneficial light to moderate rain, locally heavier, occurred in the Southern Plains Tuesday. Additional rainfall is developing in the region Wednesday. Rain is favorable for soil moisture ahead of winter wheat planting. Some rain may have caused some loss of quality of open-boll cotton.

SEASON-ENDING COLD IN NORTHERN PLAINS

Freezing conditions in the Northern Plains will moderate over the next few days. Some areas had the row crop season end several weeks early due to the cold wave this week.

DRY FOR DELTA HARVEST

The Delta has very little rainfall expected this week. Drier conditions will favor harvest progress.

INCREASED SOUTHEAST SHOWERS

The Southeast has broader coverage of showers and thunderstorms indicated over the next week. The rain may cause some quality loss in open boll cotton. Grain harvest also faces some disruption due to the increase in storms.

PRAIRIES FREEZE DAMAGE

Freezing conditions in the Canadian Prairies have damaged some canola. The forecast has moderating temperatures and drier conditions through the balance of the week, which will favor harvest progress.

CONTINUED DRY IN CENTRAL BRAZIL

Across Brazil's crop areas, periods of rain are again in store for southern areas. High producing central crop areas remain dry. Forecast models continue to suggest the wet season may be late this spring, delaying soybean planting in the central and north.

MINIMAL ARGENTINA RAINFALL

In central Argentina, showers the rest of the week will focus on the far north and the east, where soil moisture is still mostly favorable, leaving much of the interior dry and needing rainfall.

SOUTH AUSTRALIA RAIN

South Australia and Victoria wheat areas have moderate rain in store through the next week. Other wheat areas in Western Australia, New South Wales and Queensland will have mainly light precipitation. Australia's wheat crop has a much larger prospect than a year ago.

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

Follow him on Twitter @BAndersonDTN

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