Heatwave in the US and improved weather conditions in the Black Sea region are the main factors that will influence markets in the coming weeks

Published Jun 22, 2024

Tridge summary

Traders are closely monitoring weather conditions in the United States, Russia, and Argentina, as they impact the development of spring crops. The United States is experiencing favorable conditions, but high temperatures in the southeast are causing soil stress. Canada is seeing heavy rains, particularly in the south and east, but favorable conditions for spring wheat and canola. In southern Brazil, excessive rainfall is leading to flooding, while argentina's excessive rainfall is accelerating winter wheat sowing and improving crop forecasts. France and Germany are experiencing excessively wet conditions, negatively affecting maturing wheat and developing corn. The Black Sea region is forecasted to have several fronts with precipitation, improving moisture reserves for corn, sunflower, and soybeans. Ukraine is also seeing scattered precipitation, allowing spring crops to develop well. Russia's European and Asian parts are seeing precipitation, improving the harvest potential of spring crops. Australia is experiencing favorable conditions for sowing and development of winter wheat, canola, and barley.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The main focus of traders is now on weather conditions in Russia, where conditions for spring crops are improving, as well as in the southeastern United States, where the weather is hot, but next week thunderstorms and showers are expected. Throughout the week in the Northwest Midwest and the Central and Southern plains of the United States there were daily showers and thunderstorms, which contributed to the development of crops. However, in the southeast of the “corn belt” abnormally high temperatures reduced the level of moisture in the soil, creating stress for the germination of spring crops. Next week, the front with thunderstorms will move east, which will lead to lower temperatures and significant showers, and at the end of the week there will be another wave of thunderstorms, which will finally reduce temperatures to normal. In the United States in early June remained very favorable conditions for all crops, which puts a lot of pressure on the quotes of soybeans, corn and ...
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.