ODA Market Alert: Rainfall over key South American corn and soybean eases market concerns.

Much needed rainfall has fallen across key growing areas of South America in the last week, with more expected in the period ahead. The precipitation will go somewhere to replenish the soil moisture deficit that has built-up in the early growing season, especially for 🇧🇷 Brazil’s soybean crops, whose main region of Mato Grosso has been particularly affected. With fears of reduced production easing, world soybean and corn prices have been in retreat. However, weather forecasts for this region will remain front and centre of traders’ minds for the next two months, until harvest.