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Commodities Market Impact Weather: Heavy Rainfall for Missouri Valley

07/30/2021 | 07:14am EDT

Moderate to heavy rainfall across the Missouri Valley and the last day of frosts in Brazil are the weather factors holding the market's attention Friday.

COOLER MIDWEST WITH LIMITED SHOWERS

A front moved through the Midwest with moderate rainfall along with bouts of severe weather during the last couple of days. Where severe weather did not occur, the rains were beneficial. Most of Iowa missed out, however. Another round of beneficial rain will come to western areas through Saturday, providing a good section of Iowa with timely rains. It could give more heavy rain to saturated soils in Missouri and Illinois, however. Northwestern areas, particularly southern and western Minnesota, continue to be dry with declining corn and soybean conditions. Temperatures will be mild for the next week.

FRONT MOVES THROUGH SOUTHERN PLAINS

High temperatures near 100 degrees Fahrenheit in the Southern Plains will aid in drying soils for the next couple of days, leading to some stress for reproductive corn and soybeans. A front will slide southward with rain chances through the weekend and into Monday. Rainfall looks best for eastern Nebraska. Lower temperatures are forecast behind the front for next week, which would benefit drier areas.

NORTHERN PLAINS GOING DRIER AGAIN

A system developing over South Dakota on Friday is bringing moderate to heavy rainfall for the state but other areas are likely to be dry into next week. Another system may come through in the middle of next week though models are unsure of how good coverage or amounts will be with it. More seasonable temperatures through the weekend are likely to rise next week, creating more stress for reproductive corn and soybeans.

FAVORABLE DELTA GROWING CONDITIONS

Recent showers in the Delta have been very hit or miss, but helpful where they have occurred. More rainfall is expected with a weak front moving through on Friday, and another system coming through over the weekend into next week. Conditions remain mostly favorable for reproductive cotton and soybeans.

NEAR-DAILY SOUTHEAST SHOWERS CONTINUING

In the Southeast, near-daily scattered showers and thunderstorms continue to produce favorable conditions for developing to reproductive cotton for the next week.

TIME RUNNING OUT FOR CANADIAN PRAIRIES

Limited rainfall chances and temperatures mostly above normal in the Canadian Prairies will continue to be unfavorable for the next week. The next chance for meaningful rainfall comes in the middle of next week, but could be too late for both wheat and canola as harvest has already begun in Saskatchewan according to provincial reports.

FROSTS ENDING FOR SOUTHERN BRAZIL

Another round of frost continued in southern Brazil Friday morning. It is getting too late for much of the corn crop to be affected as crops race toward maturity, but is having significant effects on specialty coffee, sugarcane, and citrus crops. Winter wheat will not enjoy the below-normal temperatures, but damage is not expected to be very significant.

EASTERN BLACK SEA DRYNESS

Systems will continue to pulse through Europe, which will bring periods of showers through Ukraine and northwest Russia during the course of the next week, but it will be likely to miss southwest Russia and the Volga Valley, areas that could use more moisture as temperatures go back above normal.

REMNANTS OF TYPHOON IN-FA IN NORTHEAST CHINA

The remnants of Typhoon In-Fa are forecast to move northeast through most of the major corn and soybean areas for the rest of this week and weekend. This could mean flooding rains and damage, hurting production. The system already produced incredibly damaging rainfall on the North China Plain with some areas seeing more than 10 inches.

(END) Dow Jones Newswires

07-30-21 0914ET

Stocks mentioned in the article
ChangeLast1st jan.
CORN FUTURES (C) - CBR (FLOOR)/C1 -0.47% 526.75 End-of-day quote.9.35%
CORN?FUTURES (SETTLEMENT ONLY) (ZC) - CBR (FLOOR)/C11 -0.48% 465.25 End-of-day quote.0.00%
DJ INDUSTRIAL 0.10% 34798 Delayed Quote.13.59%
EURO / BRAZILIAN REAL (EUR/BRL) 0.01% 6.2556 Delayed Quote.-1.87%
S&P GSCI CORN INDEX -0.33% 433.2301 Delayed Quote.8.94%
S&P GSCI SOY BEANS INDEX 0.51% 512.3567 Delayed Quote.-1.98%
SOYBEAN MEAL FUTURES (ZM) - CBE (ELECTRONIC)/C1 -0.09% 336.3 End-of-day quote.-22.51%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) -0.21% 72.6 Delayed Quote.-1.08%
WHEAT FUTURES (W) - CBR (FLOOR)/C1 0.84% 723.75 End-of-day quote.13.00%
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