Grain Markets Prepare for Critical Two Weeks Ahead of Crop Tour

The grain markets are bracing for two big weeks that could make or break their fortunes. The annual Pro Farmer Crop Tour is just around the corner, and it will provide crucial insight into crop conditions across key states.

The tour's departure next week coincides with a rise in Chicago wheat futures due to concerns over Russian and Ukrainian attacks on each other's export operations.

Russian fuel supplies could be impacted by these attacks, potentially limiting the availability of diesel for tractors and trucks used in agricultural production. Ukraine has attacked Russia's fuel supply, which would further strain Russian agricultural production.

In France, maize crop conditions have declined for an eighth consecutive week, with only 31% of crops rated as good or excellent by August 3rd. This marks the worst rating in at least 15 years, with the European Union's biggest grain producer struggling with hot weather and drought.