Commodities Market Impact Weather

Teresa Deutchman
Meteorologist

MINNEAPOLIS (DTN) -- An active pattern continues across much of the U.S. through this weekend, except in the southwestern Plains. Heat and overall dryness in Argentina and more rain for Brazil are the weather factors driving the markets Friday.

MORE PRECIPITATION FOR MIDWEST

Another round of precipitation is expected in the Midwest this weekend with some heavier snowfall amounts across the north than the last system that went through on Thursday. Temperatures will waffle around over the next 10 days, but trend colder thereafter.

SOUTHWESTERN PLAINS MISSING OUT ON ACTIVE PATTERN

Aside from a few chances of isolated showers this weekend, mostly dry weather returns to the area, providing limited help to the ongoing drought. Temperatures will waffle around over the next 10 days, but mainly be cooler than normal.

NORTHERN PLAINS AND CANADIAN PRAIRIES COLDER

Waves of snow will continue across the Northern Plains and southern Canadian Prairies through the weekend, adding up to some hefty amounts for a lot of the region over the course of this week. Colder air will also be in place for a while, with higher inputs than normal required for livestock.

FLOODING FOR DELTA, FIELDWORK SLOW

Water levels on the Mississippi River remain high for the foreseeable future due to a very active weather pattern across the watershed for at least the next week. Some areas of minor flooding are forecast instead. The heavy precipitation has left the region wet and more difficult to do some early fieldwork.

HEAVY RAIN CONTINUES IN BRAZIL

Scattered showers continue for much of Brazil's growing regions for the next week outside of Minas Gerais and Rio Grande do Sul, where showers will be more limited. Despite recent rains, many areas have made significant progress with regard to soybean harvest and corn planting. However, some areas are behind, somewhat significantly, and will expose more of the corn crop to the dry season which is forecast start up in April and frosts that may occur in June. Corn already in the ground will benefit from good soil moisture.

HEAT AND LIMITED RAIN IN ARGENTINA

Dry conditions continue to be a concern for immature corn and soybeans in Argentina moving forward. Any showers will be limited for the next week, though isolated showers may move through at times. Southern areas stand the best chance at continued precipitation going into next week, but for most areas, the rain is too late to have much of an impact. Showers will spread through more of the country later next week. The heat that developed last week continues through next week with daytime highs near 100 degrees Fahrenheit when the rains do not occur. The heat and dryness are keeping stress high for both crops in various stages of growth.

HEATWAVE COMING FOR INDIA

A long-duration heatwave will develop later this week across most of India and continue through a good portion of the middle of March. As long as precipitation does not occur, daytime highs will exceed 100F for a couple of weeks. Isolated showers will develop at times but be limited. The heat and limited showers may be very stressful for filling winter wheat.

Teresa Deutchman can be reached at teresa.deutchman@dtn.com

(c) Copyright 2023 DTN, LLC. All rights reserved.