World Crop Weather

Reports coming out of India suggest that this month's soaring temperatures will see the wheat crop there ripen ahead of normal. Heat stress and lack of rainfall during March will likely see final production come in below the government's target of 82 MMT.

"The chances for a record India wheat harvest above 80 million metric tonnes is slim," says Gail Martell of Martell Crop Projections. "The Pakistan wheat harvest may also be threatened, since most of that country's wheat is grown just to the west of Punjab, India," she adds.

Meanwhile, cloud seeding in South West China appears to have brought some generally light rain to drought-stricken Yunnan province over the weekend. Although far from being a drought buster, the first rain since October fell for about three hours in Jinghong county in the early hours of Sunday morning.