Persistent precipitation deficit in Brazil and the Black Sea region supports grain price growth

Lack of precipitation in eastern Ukraine and southwestern Russia is holding back winter wheat sowing, while dry conditions in central Brazil are delaying corn and soybean planting. This has led to a speculative rise in prices on the stock exchanges in recent weeks. In the southern regions of Brazil this week it rained, which will contribute to the sowing, but the Central regions remain too dry. In the state of Mato Grosso next week is expected to be short-term precipitation, but they are not enough to overcome the drought, so farmers postpone sowing until more abundant rain. The west and north of Argentina are also suffering from drought, which is delaying corn sowing and worsening the condition of winter wheat. Some rain is forecast for next week, but it will not solve the problem. The western regions of Ukraine are receiving precipitation, while the eastern regions and southwest of Russia have been suffering from drought for several months, which has prevented active sowing of ...