April 2 (Bloomberg) -- Ukraine spring sowing may be delayed after “extremely strong” snowstorms in the northwest and the center of the country, while cold conditions the U.S. Midwest may slow planting there, Oil World wrote.
Soybean crop prospects in Argentina have deteriorated after late planting, while drought has hurt crops in South Africa, according to the Hamburg-based researcher.
Corn prices in Chicago have dropped 24 percent from an August peak on expectations of increased planting, while soybeans have slipped 21 percent from a September high and wheat 29 percent from a July peak.
In Ukraine, delayed planting “is likely to become a particular concern for the early-sown crops like spring wheat and barley,” Oil World wrote in an e-mailed report today. “Some farmers might also be prompted to postpone field work to the benefit of crops that can be planted later, like corn, soybeans and sunflower seed.”
In the U.S., cold weather in the southeast and southern Midwest could result in planting delays, according to Oil World. Several growing regions still need “considerable” rain to replenish soil moisture, while any delays caused by rains would mean corn sowing can’t be completed on time, it said.
About 30 percent of Argentina’s soybeans were planted later than usual and will reach maturity 10 to 20 days behind schedule, according to the researcher. In South Africa, dry conditions in the Free State and North West provinces resulted in lower forecasts for corn and sunflower seed, Oil World said.
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