Heat in the US and Brazil, rain in Argentina, Europe, Ukraine and snow in Canada will affect agricultural markets next week

Dry and hot weather has been prevailing in the Midwest and Plains this week, accelerating corn and soybean drying and harvest. Light showers are forecast for next week, but overall the weather will remain favorable for field operations. The Canadian prairies have been largely warm and dry this week, allowing for accelerated harvests, particularly for canola, which is 71% harvested in Saskatchewan as of September 29 and 76% harvested in Manitoba as of October 1. Temperatures will dip below freezing over the weekend, but will warm up by midweek, although precipitation (sometimes in the form of snow) will continue to hold back harvests of late crops. Central Brazil has also been experiencing hot, dry weather, with isolated rains expected next week, which will not be conducive to active soybean planting. The start of the rainy season is delayed by two weeks. Meanwhile, in southern Brazil, intermittent rains are supporting the planting and development of corn and soybean crops, with ...