Black Sea escalation is adding fresh support to grain and oilseed prices, with traders increasingly focused on geopolitical risk rather than U.S. weather.
StoneX economist Arlan Suderman said a heat dome has not posed a major threat to the Corn Belt, leaving demand as the main force driving the market.
China is following through on purchase commitments after lagging some recent years, and Suderman said demand could stay firm if President Trump and Xi Jinping meet this year.
Stronger renewable fuel demand and trade policy are also under close watch, adding to the factors shaping the market outlook beyond crop conditions.