FI Morning Grain Comments 04/19/23

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World
Weather Inc.

West-central
and southwestern U.S. hard red winter wheat areas are still not advertised to receive a significant amount of rain over the next two weeks, although some showers are advertised

Central
and eastern portions of wheat country should see a boost in rainfall that will be good for crops beginning next week

Cold
weather in the U.S. northern and central Plains and Midwest this weekend and Monday is not likely to hurt winter wheat in a permanent manner, but concern is rising over some early planted corn and a few fields of soybeans that have emerged
A
second bout of cold is advertised to impact the U.S. Midwest during the last days of April and that may not go over very well for early planted corn and soybeans, although there is plenty of time for moderation in the temperature outlook
Snowstorm
in eastern Canada’s Prairies today through Thursday will produce 0.50 to 1.50 inches of moisture and local totals to 2.00 inches with 6-15 inches of snow and local totals of 15-20 inches – some weakening of the storm is expected
Southwestern
Canada’s Prairies will remain drier biased through the end of this month, although some light precipitation is expected briefly
U.S.
Red River Basin of the North flooding may not be as bad as feared if precipitation will be limited during the next few weeks

Upper
Mississippi River Basin flooding will be aggravated by rain and snow over the next few days

Canada’s
Red River Basin and the Assiniboine River Basin flood potentials may worsen with the onset of this week’s significant snowstorm and the snow water equivalency that will run off into the Red River in Manitoba eventually possibly worsening flooding on the Red
River in May
Spain,
Portugal and North Africa will continue drier than usual, despite a few showers over the next ten days
India’s
weather may trend cooler and a little wetter in the second week of the outlook which might disrupt its harvest and raise some concern over winter crop quality; first week temperatures will also be cooler than usual, but precipitation will be limited
Argentina
will be drier biased into the weekend favoring summer crop harvesting; some showers will occur next week
Mato
Grosso, Brazil’s Safrinha corn areas are drying down a little early and will need to be closely monitored; however, most of the latest planted Safrinha corn was in Parana, Mato Grosso do Sul and Sao Paulo where the moisture profile is still quite abundant

Seasonal
rains have ended in much of Brazil, although rain in the interior south will linger for a little longer

Mali
and Burkina Faso cotton areas will remain dry
Kazakhstan
and Russia’s spring wheat areas will experience some net drying next week and into the last days of this month, but the environment will be great for planting – rain will be important in May to prevent the region from getting too dry
West
Texas rain prospects are poor during the next ten days, although some showers are likely
U.S.
Delta will get rain as cold air arrives late this week and then will get much more rain next week as warming evolves
Western
Australia will dry down over the next ten days; some planting of wheat, barley and canola has begun

Source:
World Weather, INC.

Bloomberg
Ag calendar

Wednesday,
April 19: