Commodities Market Impact Weather

MINNEAPOLIS (DTN) -- Cold temperatures in the U.S. through the weekend, recent heavy rain in eastern Australia, and drier conditions for South America are the weather factors driving the markets Wednesday.

COLD AND SNOWY FOR MIDWEST

A weak system passed through the Midwest on Tuesday with scattered showers, mostly in the form of snow. Another push of very cold air will come through Thursday and Friday with more snow showers. Lake-effect snows will continue through the weekend. Wheat is finding cause to go dormant this week. Temperatures rise above normal for most places next week.

COLD FOR CENTRAL AND SOUTHERN PLAINS

Temperatures well below normal continue in the Central and Southern Plains as a couple of reinforcing shots of cold air move through this week, along with some light snow. Temperatures will moderate next week and will go back above normal again. Wheat may be slowly slipping into dormancy in poor condition, though.

WINTER TEMPERATURES FOR NORTHERN PLAINS

Light snows continue in the Northern Plains this week as a couple of reinforcing shots of cold air move through. Temperatures will start to moderate next week but snowpack is likely to keep temperatures down.

DRY IN THE DELTA

Recent precipitation, including what occurred with the remnants of Nicole, has benefited river levels on the Lower Mississippi. The effect is mostly temporary and river levels will be falling all next week. Warmer air returns next week.

DRIER IN SOUTHERN BRAZIL

Scattered showers occurred over southern Brazil this weekend but left on Monday. Showers will continue over central areas. With the recent showers, the dryness in the south will not be concerning just yet. More showers are expected next week.

ARGENTINA SEEING ANOTHER SHOT OF SHOWERS

Scattered showers moved through Argentina over the weekend, which has eased some of the drought concerns. Soil moisture is still below normal for most areas despite the showers. A weak front will allow for some isolated showers to return to southern areas late in the week and fill in again over the weekend before a front pushes the showers out Sunday into Monday. The dryness and drought continue to be concerns until showers become more consistent.

PRECIPITATION FOR THE BLACK SEA

Scattered showers will move through the Black Sea region over the next several days, which is unfavorable for later harvest of corn and sunflowers. Wheat will go dormant through the end of the month, mostly in good condition where planting was able to occur.

DRIER WEEK IN AUSTRALIA

Recent heavy rains in eastern Australia are leading to quality concerns and flood damage to a potential record crop. Dry conditions are expected for the next couple of days, but another system will come through with scattered showers this weekend, keeping most areas wet.

John Baranick can be reached at john.baranick@dtn.com

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