US wheat futures were higher in all grades overnight. The lack of a confirmation from Russia supporting an extension of the Black Sea Grain Corridor and increasing concerns about dry weather in Canada and ongoing dry in parts of the USA were all too much for the punters to ignore.

A quick look at the weather map shows that much of the Canadian Prairies has seen little more than 20-30% of their average rainfall for this time of year. Southern Saskatchewan seeing little to no rain and western and central Alberta seeing 15-20mm. Every day we see more and more photos and videos on social media of western Canadian producers walking through drought devastated fields of wheat and canola.
The seven day forecast is looking a little better. Falls of 10-30mm are expected across the northern parts of central prairies, just missing the main durum producing regions. In Alberta, storms are expected to be generally across the central north cropping districts. This maybe beneficial to canola in Alberta but the SE of Alberta, like the south of Saskatchewan, is also expected to miss the heavier falls.
Last Tuesday the ND Wheat weekly crop update showed durum in N.Dakota still rated at 64% G/E but further west in Montana the rating was just 21% G/E with the P/VP rating at 7%. Montana has been caught up in the dry weather that is impacting on the Canadian Prairies.

There are now rumors that import tariffs on wheat into India will be removed. In spite of a record wheat crop again in 2023 India project that privately held stocks are the lowest they have been in a decade. India has also talked of implementing export quotas with government to government trade. This combined with a tender type system is expected to slow Indian exports to nearby countries.