Favorable weather in South America and Europe continues to improve crop prospects

Published Mar 1, 2024

Tridge summary

Spring crop planting has commenced in Europe and the US due to warmer temperatures, while heavy rainfall in South America is enhancing the potential of soybean and corn crops. A mild winter in Europe, particularly Ukraine, has resulted in substantial soil moisture reserves, benefiting both winter and spring crops. In the US, higher than average temperatures have been advantageous for sowing, although potential cooler temperatures and increased rainfall could hinder progress. Meanwhile, in South America, rainfall is improving corn planting and harvest prospects, with conditions for soybean and corn in Argentina also on the upswing. However, these favorable conditions are causing a drop in soybean and corn prices, which are currently at a three-year low.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Planting of spring crops has begun in Europe and the US amid rising temperatures, while heavy rains in South America are replenishing moisture reserves and improving soybean and corn crop potential. A warm winter with heavy precipitation in Europe, in particular in Ukraine, made it possible to accumulate significant reserves of soil moisture, which contributes to the development of winter crops and the sowing of spring crops. This week temperatures reached 5-12 oC, but next week they will drop. Short-term precipitation will contribute to obtaining seedlings. According to the Ministry of Agrarian Policy of Ukraine, farmers of the Vinnytsia, Odesa, Mykolaiv and Kherson regions have started sowing spring crops, with which 22.3 thousand hectares have already been sown on February 29, in particular wheat - 0.8 thousand hectares, barley - 11.4 thousand hectares, peas - 10.2 thousand ha. Temperatures have been above normal in the US this week, especially in the South, where strong winds ...

Source: Graintrade