Floods in Europe, heat in southern Russia and Canada increase impact on wheat and rapeseed prices

Global warming is exacerbating unusual phenomena such as 45 degrees Celsius in Canada or frosts in Brazil, leading to more difficult crop forecasts and the weather factor remaining a major factor in price pressures. More European monthly rainfall fell in a number of European countries this week, leading to floods in West Germany and Belgium, as well as in some regions of the Czech Republic, the Netherlands, Luxembourg and France, which continued to slow down and result in crop losses. Dozens were reported dead and missing. The extent of the damage remains to be seen, but it is clear that this is the most catastrophic flood in Europe in 20 years. The Canadian prairies in canola and wheat growing areas had dry and hot conditions this week, which has increased stress on crops that have been suffering from moisture shortages since the spring. Precipitation and lower temperatures are forecast for the next week, which may reduce the threat, but experts say the harvest potential has ...