War has been disruptive for the global grains and oilseed sector

Oct 31, 2023

Now that the harvest is pretty much wrapped up for most farmers, producers are monitoring the markets and what's happening with production in other countries.

Neil Townsend, a Senior Market Analyst with FarmLink Marketing Solutions thinks that in the next month, we could see some retracement for canola and wheat values.

"Maybe in the canola, we can gain back $1 per bushel, and in the wheat, we can gain back 50, 60, or 70 cents per bushel. Again, I wouldn't be a seller at those values just because to go further out beyond like a month or six weeks right now and predict what is going to happen is hard."

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Video: Midwest Weather Shock: Flash Drought Turns Into Heavy Rain Threat This Week (2026 Forecast)

A rapidly changing Midwest weather pattern is unfolding in 2026 as areas that recently slipped into abnormal dryness and flash drought conditions are now facing the threat of heavy rain and repeated storm systems.

After a wet spring erased early drought conditions, regions across Illinois, Iowa, Wisconsin, Minnesota, and northern Missouri have quickly dried out again since mid-to-late May. Soil moisture is dropping fast, and crops like corn and soybeans are beginning to feel the stress of rising temperatures and lack of consistent rainfall. Now, weather models show a major shift.

A developing system moving in from the Northern Plains is expected to bring multiple rounds of showers and thunderstorms, with the potential for locally heavy rainfall across the Midwest. While some areas may miss out, others could finally see much-needed relief from the growing dryness. In this video, we break down:

Current drought conditions across the Midwest

Why a flash drought is developing quickly

Timing and path of incoming storm systems

Which states are most likely to see heavy rain

How long this wet pattern could last

Will this rain end the drought or create new flooding risks? Watch the full forecast to find out.