Improved rainfall in the US Midwest and Plains is expected to support corn and soybean crop conditions, with further precipitation forecast for next week. However, parts of the southern Plains remain hot and relatively dry. Rainfall in southern Alberta and Saskatchewan is also expected to improve crop prospects ahead of harvest, potentially supporting higher Canadian wheat and canola production estimates.
In Western Europe, the latest heatwave has ended, with cooler temperatures and extended rainfall forecast for France and Germany. The moisture should benefit late crops and support preparations for winter planting, although late rain is unlikely to reverse damage already sustained in France.
Black Sea weather remains a more significant concern for physical traders. Hot, mostly dry conditions affected the region last week. Rain and cooler temperatures are forecast for western and northern Ukraine, but drought is expected to persist in eastern and southern areas, reducing the yield potential of late crops and potentially disrupting winter rapeseed sowing. Dry conditions in southwestern Russia may likewise increase stress on late crops. The developments could influence regional crop estimates and forward export availability, although the immediate price impact remains uncertain.