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Rainfall and cold weather has delayed planting of grains and oilseeds in Canada, Russia, Ukraine and the U.S., threatening already-low global inventories,
Oil World said in a report today.
In the U.S., the world's biggest exporter of corn, soybeans and wheat, heavy rains through Midwest and Plains states have made fields too wet for planting, the researcher said. Rain in Canada has delayed seeding of spring wheat and canola, and cold, wet weather has kept farmers in Russia and Ukraine from seeding spring grains, according to Hamburg-based oilseeds analysts Oil World.
"The major threat is to be seen in planting delays caused by very wet fields and local flooding" in Canada,
Oil World said. "In recent weeks the low temperatures have slowed melting of a comparatively thick snow cover on already saturated fields. There is the risk of considerable additional flooding in parts of Saskatchewan and Manitoba."
About 13 percent of planned corn was sown in the U.S. as of May 1 versus 68 percent a year earlier, Department of Agriculture data show. About 3 percent of Russian grains were seeded as of April 21, about half of what was in the ground at the same time last year, according to
Oil World. In Canada, canola and wheat seeding are behind the normal schedule.
