Rain was limited across most of the Midwest, Delta, and Plains this past weekend and allowed for rapid crop dry down and increasing harvesting activity. Rains should build across the northwestern Midwest Tuesday through Thursday and move into the central and eastern regions by late week as a cold front moves south. Widespread rain across the Midwest and Delta next week will further stall corn and soybean harvesting, some may cause field losses, according to Radiant Solutions LLC.
It looks like a stop and go harvest season into early October which may prove to be helpful in delaying a harvest glut and further weakness in cash basis and futures. Demand continues to be fantastic for both corn and soybeans, so every day of use helps to keep storage from becoming overwhelmed.
On the international front, cold temperatures caused some damage to wheat crops in central parts of Western Australia, Victoria and South Australia during the weekend. This was an area that Australian exporters were hoping for better yields to offset drought-reduced yields in the east. Dry weather will continue across most of the wheat production belt the next two weeks, increases moisture shortages and crop stress, Radiant Solutions said in a daily report on Monday
Light rain fell in parts of Belarus, southeastern and western Ukraine, and northern and western Russia this past weekend. The rains improved moisture a bit for winter wheat germination. However, the rain was not expected to be heavy enough to end long term dryness. Also, the drier pattern this week in Ukraine and south-ern Central Region will allow moisture there to decline again and stress to rebuild on wheat, Radiant said.
The rains continue to improve moisture a bit for new wheat germination across far northern areas of the European Union, but limited rains in central and southeastern areas are maintaining long-term dryness, Radian Solutions said. A few showers should build across northern France, western Germany, and Italy this week, but amounts should remain too light to significantly ease dryness and stress,
Rains increased across parts Brazil and Argentina during the weekend and more this week will be beneficial for wheat and improve conditions of corn and soybeans as farmers ramp up planting.