Commodity Highlights

November 20, 2008

Cold and drier weather across the Midwest corn and soybean belt through the weekend will favor late harvest operations. While it will turn milder from west to east Sunday into early next week, any significant rain or snow will probably hold off until late in the week.

The northern portion of Brazil's corn and soybean areas will have near to above normal rainfall over the next couple of weeks. Central and southern croplands will be mostly drier and warmer than normal over the next 10 days favoring corn and soybean planting as well as late winter wheat harvesting.

Dry and warm to hot weather across northern Argentina into the weekend will stress spring sown crops. A frontal boundary may bring scattered rains to the region early next week, but more consistent rainfall is needed to improve crop conditions.

The wheat areas of Western Australia will have generally favorable weather for harvest operations over the next 10-15 days.

Spotty rains are expected across eastern Australia's wheat areas this weekend. Mainly dry early next week, then scattered rains later next week. Overall rainfall next week will average near normal.

The maize lands across South Africa will continue to receive near to above normal rainfall over the next week or two. Recent weeks have featured near to above normal rainfall, helping to ease concerns about the dry, hot start to the growing season back in October.

Very cold air will overspread much of Europe this weekend with temperatures several degrees below normal across many areas next week. A bitter cold air mass is also slated to move into northeast China, Korea and Japan late next week.