Commodities Market Impact Weather

OMAHA (DTN) -- Weekend rain headed for the Midwest, and variable conditions for Northern Plains flooding, are the key weather items for the commodity trade's attention Wednesday.

WET MIDWEST FORECAST

The DTN ag weather forecast calls for continued major flooding in the northern and western Midwest due to heavy rains early in March and melting snow. Elsewhere, a moderate-to-heavy rain event appears likely for the remainder of the Midwest at the end of this week. This is expected to affect southern and east-central areas of the west and most of the east. Renewed flooding for south, central and east areas appears likely.

NORTHERN PLAINS RIVER FLOODING

In the Northern Plains, the still-melting heavy snowpack in the eastern Dakotas will lead to major flooding on the Red River this spring. Rainfall is expected to be limited during the next seven to 10 days, allowing for a more orderly snowmelt.

ADEQUATE SOUTHERN PLAINS MOISTURE

In the Southern Plains, soil moisture remains favorable for winter wheat as it exits dormancy. Warmer temperatures this week will benefit progress, which has been delayed due to late-winter cold spells.

FAVORABLE CONDITIONS IN BRAZIL

The Brazil weather pattern remains favorable for developing second-crop (safrinha) corn. Drier weather and warm-to-hot temperatures in southern Brazil favors the soybean harvest at least through Friday. A few showers during the weekend may cause minor delays.

CONTINUED ARGENTINA RAIN FORECAST

In central Argentina, showers continue in the forecast for Santa Fe and Cordoba through the weekend. The rain will cause some delay in harvest but will be favorable for winter grain moisture.

FAVORABLE BLACK SEA CONDITIONS

In the Black Sea region, winter wheat in Ukraine and Russia continues to exit dormancy with mostly favorable soil moisture conditions. Southeastern Ukraine is trending drier, however, which will bear monitoring. The southeastern Ukraine area has had less than half its normal rainfall over the past 30 days.

EASTERN AUSTRALIA RAINFALL

In eastern Australia, moderate-to-heavy thunderstorms are forecast for northern New South Wales and southern Queensland. This is unfavorable for late-maturing sorghum and cotton and harvesting of these crops. It will provide a much-needed boost to soil moisture in wheat areas ahead of wheat seeding. Rain is needed to support wheat, as this area has been under severe drought conditions for several months.

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

Follow Bryce Anderson on Twitter @BAndersonDTN

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