Weather conditions in Argentina, as a mixed forecast lead to fears that see some areas remain dry. Most of the country’s main soy and corn areas received rain this weekend, they were strongest in Santa Fe province, with some areas receiving as much as 100mm. While rains in Argentina’s largest grains producing province of Buenos Aires were lighter at around 10mm, that helped alleviate the effects of a week of high temperatures.
US weather temperatures are expected to be below freezing in much of the Plains and Midwestern winter wheat-growing areas, potentially putting dormant plants at risk of damage.
Egypt in the market with another tender for Feb shipment – successful offers likely to be Black sea in origin but markets will take interest if other origins win business out of it.