The showers will slow late planting progress but should not last long enough to reduce seeded acreage. Argentina should make good headway with seeding over the next week due to drier weather. South Africa will see seasonable showers over the next week which will aid germination without causing planting delays. Brazil should see some planting delays this week, but all of the intended acreage is still expected to be seeded. Argentine soybean planting was slowed by rains last week but should recover in most areas this week as dry weather has settled in.
Moisture is favorable for germination in all of South America.
The soybean oil weather price signal is neutral. Malaysian palm oil production will remain substantial as rains come in at a near to above normal pace. China rapeseed areas will benefit from rains later this week as they aid germination of newly seeded fields. The Argentine sunflowers are in stable condition and would benefit from potential rains in the southwest. Philippines coconuts will be threatened by a tropical storm in the area over the next 2 days.