Morning Comments – April 16

Headlines

  • Grains mixed in the overnight

  • Wheat lower on improved moisture prospects

  • Weekend storm brings snow to north central plains

Weekend Storm

  • A weekend storm brought 8-16 inches into the north central plains this weekend.

  • The storm also brought 1-3” of rains to the eastern Midwest and Delta.

  • Temperatures dropped into the teens following the storm as far south as Southern Kansas.

  • The potential for freeze damage in southwest Kansas to wheat in the jointing stage has been overshadowed this morning by the forecast for more moisture over the weekend.

Winter Wheat to Receive Rain

  • The forecast shows meaningful precipitation will move into the central and southwestern plains starting late this week and into the weekend.

  • The 6-10 day weather outlook improves moisture outlook.

  • The precipitation will benefit the winter wheat crop and bring moisture to the drought stricken regions of the winter wheat belt.

Argentina

  • Buenos Aires Grains Exchange reported Soybean harvest is 23% complete and corn harvest is 24% complete as of the 11th.

  • Showers over the weekend were mostly in Santa Fe and eastern Cordoba.

  • More showers are expected by later this week slowing dry-down and delaying harvest minimally.

Brazil Weather

  • Precipitation continues to benefit 2nd crop corn in the northern and eastern regions of Brazil.

  • Dryness is developing in Mato Grosso do Sul, Parana and Sao Paulo.

  • Temperatures are expected to increase next week which could add stress to the southern corn region.

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