SINGAPORE (Reuters) - Freezing temperatures across the U.S. Midwest will likely prevent farmers from harvesting corn this week, while the cold weather in the Plains is expected to favor the winter wheat crop, a forecaster said on Monday.

"Little additional corn harvest is expected due to very cold temperatures, snow in the fields and some additional light snow expected during midweek," said Mike Palmerino, a forecaster at DTN Meteorlogix.

Snowfall of two to four inches was reported over western Iowa and eastern Nebraska during the weekend. "The outlook calls for dry weather on Monday and Tuesday. Snow develops on Wednesday ending on Thursday."

U.S. farmers have harvested much of this year's near-record corn crop, but around 500 to 600 million bushels remained in the fields as of last week.

The U.S. Agriculture Department has forecast 2009 U.S. corn production at 12.921 billion bushels, second only to the record harvest of 13.038 billion bushels two years ago.

The cold weather is unlikely to hamper movement of livestock and the snow will boost winter wheat crop.

"No major concerns for cattle in the feedlots with only a light snow event expected during midweek," said Palmerino. "Conditions are favorable for dormant winter wheat."

In South America, the weather will continue to remain favorable for soybeans and corn.

"A favorable weather pattern for developing soybeans will continue throughout the major growing areas of Brazil, with regular rains and no significant hot weather," the forecaster said. "(In Argentina) weather pattern will be favorable for developing corn and soybeans and any remaining planting."

(Reporting by Naveen Thukral; Editing by Himani Sarkar)