Soil temperature affects the biological and chemical processes in the soil, but it's complex. A patch of soil can have microclimates within itself. The presence or absence of water also affects temperature, and conversely temperature affects how water behaves.
Plants are optimized for their native climates, and generally their biological processes are within a temperature bandwidth. Above or below their preferred temperatures, growth will either stop or slow. Heat and cold outside the bandwidth directly affect osmosis, so there's a direct link between temperatures and plant biology.
Soil isn't necessarily an insulator. Sandy, impacted soils behave differently from live humus with a lot of active soil chemistry in temperature variations. The low-biological soils tend to be more heat resistant, the high biological soils are more reactive.
Heat transfer is slower in impacted soils, which are solid materials, compared to the relatively soft, broken up humus.
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