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Commodities Market Impact Weather

Updated

Favorable Brazil Harvest Pattern

Updated
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OMAHA (DTN) -- Mostly favorable conditions for Brazil soybean harvest, and a stormy six-to-10-day forecast in the central United States, are the key weather items for the commodity trade's attention Tuesday.

BRIEF DRIER MIDWEST TREND

The DTN ag weather forecast calls for dry conditions and variable temperatures across the Midwest during the next five days. A new round of rain and snow is indicated in the six-to-10-day time frame. Saturated soils and flooding concerns are widespread ahead of the spring season.

MIXED SOUTHERN PLAINS OUTLOOK

In the Southern Plains, southwestern areas have prospects for rain and snow to offer some needed soil moisture during the next few days. An active pattern in the next week has the potential to bring significant rain and snow to the region.

VARIABLE NORTHERN PLAINS PROSPECT

Northern Plains temperatures show a move toward more seasonal values after a very cold early week pattern. A return of colder conditions, along with the prospect of moderate to heavy snow, are indicated in the six-to-10-day time frame.

FAVORABLE BRAZIL HARVEST TREND

Across Brazil, periods of showers in central Brazil offer favorable moisture for second-crop corn, while bringing only minor delays to soybean harvest. Harvest progress is in line with average, and production estimates continue to point to a record crop in 2020. Southern and northeastern crop areas will be drier; however, little adverse impact to the total soybean crop size is expected.

USEFUL ARGENTINA MOISTURE

Argentina had moderate-to-heavy rain during the past weekend, providing favorable moisture for row crops. The pattern turns drier in the next week; however, temperatures will be below normal, thus limiting stress from the drier trend.

WARM AND DRY IN BLACK SEA REGION

Russia and Ukraine continue with above normal temperatures through the next 10 days. Soil moisture is in short supply in much of Ukraine.

MORE AUSTRALIA WHEAT DROUGHT DAMAGE

Historic drought in Australia has again reduced wheat crop prospects. Latest official estimates have the wheat crop declining to 15.5 million metric tons, the lowest in 12 years.

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

Follow him on Twitter @BAndersonDTN

(ES)

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This is not presented as a commodity trading recommendation. Weather is only one of many factors which can influence the market on any given day.

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