Market Impact Weather

OMAHA (DTN)— Mixed rainfall prospects in the Midwest, and flooding tropical rain in store for the Gulf Coast, are the key weather items for the commodity trade's attention Thursday.

VARIABLE MIDWEST SHOWERS

The DTN ag weather forecast calls for generally cool temperatures and variable rain across the Midwest through the end of the week. Showers will focus in western and northern areas. Any rain that does occur will be of most benefit to soybeans. Recently dry areas of the eastern Midwest have very little late-season precipitation indicated over the next five days.

MILD SOUTHERN PLAINS TREND

Southern Plains conditions are generally favorable. Light showers cross the region over the next five days.

LIGHT RAIN FOR NORTHERN PLAINS

In the Northern Plains, light to moderate rain in South Dakota and in Minnesota during the 5-day period may offer some benefit for soybeans. Rainfall is too late for filling corn to benefit.

HARVEY THREATENS GULF COAST FLOODING

Tropical storm and then hurricane Harvey, located in the western Gulf of Mexico and tracking toward the south Texas coast, will likely impact operations at the oil and gas rigs of the northwest Gulf of Mexico. However, major damage is currently not expected unless it tracks farther north than expected and significantly increases in strength. The system is likely to cause extreme rains and major flooding in the coastal bend area of Texas, which should include cotton fields. Unharvested cotton would be impacted.

DRY LATE WEEK IN PRAIRIES

In the Canadian Prairies, dryness continues to impact late canola while favoring the maturing crop and early harvesting. Warm conditions will favor later-filling canola at this time.

COOLER IN UKRAINE

Ukraine and Russia have turned cooler going into late week, with some rain occurring as well. This should help ease stress to crops.

FAVORABLE CHINA RAINFALL

Conditions mostly favor reproductive to filling corn and soybeans in northeastern China at this time due to recent generous rainfall. Key soybean growing areas of the north could use more rain at this time with some rain possible, as well as cooler conditions, at the end of this week and early next week. Southern growing areas have already received moderate to heavy rainfall during this week.

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

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