Commodities Market Impact Weather

OMAHA (DTN) -- A cool to colder forecast in the United States, and favorable rainfall in Brazil, are the key weather items for the commodity trade's attention Thursday.

DRIER WEEKEND FOR MIDWEST

The DTN ag weather forecast calls for a drier trend in the Midwest through the coming weekend. This will improve conditions for maturing crops and harvesting. However, the period next Monday night into Tuesday may feature a new snow-rain event and this is a concern.

COLD TO ASSIST NORTHERN HARVEST

The Northern Plains continues with a very slow harvest due to unfavorably wet conditions. Some harvest losses due to prior snow and strong winds are expected. A net drying trend may continue, along with low temperatures moving in. This could allow for some improvement.

RAIN TO CROSS SOUTHERN PLAINS

Southern Plains crop areas have some dryness in the southwestern sector. Other areas have adequate soil moisture for pre-winter wheat development.

VARIABLE PRAIRIES MOISTURE

In the Canadian Prairies, southern areas continue with a forecast for light precipitation. The general pattern will be favorable for the delayed harvest in these sectors. Some northern areas will see heavier amounts of moisture.

FAVORABLE BRAZIL RAIN

Across Brazil, rain and lower temperatures this week have been favorable for soybean soil moisture. Planting has now caught up to average for progress. Rain continues to be suggested in the forecast.

MIXED ARGENTINA PRECIPITATION

In Argentina, moderate to heavy rain is forecast for central and eastern crop areas in the next week. Western areas have lighter amounts indicated. Soil moisture is running short in western areas. This issue may become more of a concern as the growing season progresses if it continues.

DRY FOR BLACK SEA REGION

In the Black Sea region, Russia and Ukraine have no precipitation forecast through the next five days. This dry spell will add to soil moisture deficits and drought concern in northern and western Ukraine.

LIMITED AUSTRALIA RAIN

Australia wheat areas have little to no precipitation indicated through the next seven days. Drought has already drastically reduced the nation's wheat crop prospects. Major wheat areas have generally had from 40 to 80% below normal precipitation since Jan. 1. Wheat production is estimated at more than 30% below the five-year average.

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

Follow him on Twitter @BAndersonDTN

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