Market Impact Weather

OMAHA (DTN) -- A limited rainfall chance for Argentina, and beneficial moisture across Brazil, are the key weather items for the commodity trade's attention Thursday.

SLIGHT ARGENTINA RAIN CHANCE

The DTN ag weather forecast calls for dry conditions to remain in effect across central Argentina during the next week. Rain chances improve in the 10-day timeframe; however, only limited benefit is likely from rainfall. Substantial reduction in soybean output is indicated because of drought.

BENEFICIAL BRAZIL MOISTURE

Across Brazil, continued shower and thunderstorm activity offers beneficial soil moisture for late-filling soybeans and second-crop corn (safrinha) development. Official Brazil soybean crop estimates continue to be raised due to the rainfall benefit. Soybean production for the 2017-18 crop year is now forecast to be just slightly less than the record harvest one year ago.

DROUGHT DOMINATES SOUTHERN PLAINS

There are no significant rainfall chances for the west and central areas of the Southern Plains during the next six-to-10 days. Rain is badly needed as wheat crop development increases during the coming weeks to prevent significant stress to wheat and potential yield declines.

DRY AND COLD IN NORTHERN PLAINS

Northern Plains areas will be drier but still cold during the next week. Drier conditions improve transportation and offer better conditions for livestock, notably spring calving. However, the cold weather will still be stressful. The colder pattern also indicates a delayed start to spring fieldwork.

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

Follow Bryce Anderson on Twitter @BAndersonDTN

(ES/)

Copyright 2018 DTN/The Progressive Farmer. All rights reserved.