Rain in most parts of South America is the main weather factor that will impact markets in the coming weeks.

The focus of traders and analysts is now on the amount of precipitation and the conditions for crop development in South America, particularly in central Brazil, where a second consecutive record soybean harvest is forming. This week, a cyclone brought heavy rains from central to southern Brazil, improving the condition of crops in regions where rainfall had previously been less than in the center. Another front is expected this weekend, which will move to the south and may linger there for most of next week. In central Brazil, this week, rains swept across the entire region, and next week, additional rainfall is forecast in the states of Mato Grosso, Goiás, Paraná, and further north. Overall growing conditions remain favorable in all regions. At the beginning of this week, a front from the north brought rain to Argentina, particularly to areas that had already started to dry out. Over the weekend and into next week, another front with heavy rains will cover the northern and ...