Good rainfall in the US and Ukraine and dry weather in China and Australia will have the biggest impact on markets in the coming weeks

Recent weather updates across the global agricultural sector provide a mixed outlook on crop conditions as the season progresses. The Black Sea region, including Ukraine and the Russian Federation, has seen beneficial rains that are expected to boost moisture reserves and crop development, despite initial setbacks from frost in Ukraine. These conditions are aligning with the USDA's optimistic forecasts for Ukraine's harvest. In contrast, dry spells are impacting key crop areas in eastern Australia and central China, raising concerns about the resilience of wheat, canola, rapeseed, and other crops under these stressful conditions. As planting continues in the Midwest and Plains, improved trade relations with China are expected to boost soybean and corn acreage, capitalizing on favorable planting conditions and potential recovery in exports. Europe also benefits from heavy rains, though some regions face challenges in maintaining consistent conditions. These weather patterns are shaping the agricultural landscape and presenting challenges that farmers and countries must navigate to ensure successful crop outcomes.