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Parched Prairies Receive Desperately Needed Rain

Hot muggy weather across much of central Alberta on Monday, led to a series of thunderstorms that rolled through last evening.

Environment Canada is calling for more showers and possible storms today and cooler temperatures over the next couple of days. So far, no reports of damage from the storms, some of which were severe. According to the latest crop report from Alberta agriculture, 91 percent of all major crop acres are now up across the province. Spring wheat is 94 percent emerged...that's six points ahead of the five-year average, while barley is 87 percent emerged. Canola has about 87 percent of the acres planted, emerged. Tame hay and pastureland are doing better, thanks to the rain we've had recently. The report shows that large areas of the peace and southern regions continue to be drier than normal.

Next door in Saskatchewan, concerns about a worsening drought have all but disappeared for the time being, thanks to a major rain event on the weekend. Some areas received a few inches of rain from the slow-moving storm front that came up from the US. That same storm system dumped upwards of 8 inches of rain on parts of the Dakotas, which were also very dry.

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Brazilian real rally.
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+ CFTC.