Wheat futures jumped in overnight trading on concerns about supplies from Ukraine as Russian attacks continue for a fifth straight month.

Farmers in Ukraine are expected to collect 21.8 million metric tons of wheat this year, French consultancy Agritel said in a report. If realized, that would be down 32% from the previous year.

Harvested area is projected to fall 13%, Agritel said.

Also contributing to the overnight price jump is forecasts for dry weather in parts of Australia, expected to be the second-biggest exporter of the grain this year.

"Dryness continues in south-central Queensland, north-central New South Wales, and is spreading across Victoria and South Australia," said Don Keeney, an agriculture meteorologist with Maxar.

Corn and soybean also surged in overnight trading on concerns about dry weather in parts of the U.S. Midwest.

The U.S. corn crop was rated 64% good or excellent as of Sunday, down from 67% a week earlier, the USDA said in a report earlier this week. About 7% was silking, up from 4% a week earlier but behind the prior five-year average of 11%.

Sixty-three percent of U.S. soybeans earned top ratings this week, down from 65% the previous week, the agency said. Three percent was setting pods, on par with the average, while 16% of the crop was blooming, behind the normal 22% for this time of year.

Spring-wheat conditions bucked the trend and rose to 66% good or excellent last week, up from 59%, the USDA said. Last year at this time, only 16% of the crop had earned top ratings.

Wheat for September delivery jumped 33 1/2¢ to $8.38 a bushel overnight on the Chicago Board of Trade while Kansas City futures rose 28 3/4¢ to $8.80 ¼ a bushel.

Corn futures for December delivery were up 10 1/2¢ to $5.95 ½ a bushel.

Soybean futures for November delivery surged 35 1/2¢ to $13.58 ¼ a bushel. Soymeal gained $9.10 to $388.60 a short ton, while soybean oil futures added 1.91¢ to 58.55¢ a pound.

Crop moisture in parts of Nebraska, Kansas and Oklahoma is lacking as little or no rain fell in the region in the past week, according to the weekly weather and crop bulletin from the U.S. Ag Department.

Weather maps show that the entire Nebraska panhandle is "excessively dry," while the western third of Kansas is now "severely dry," the worst-possible rating on the National Oceanic and Atmospheric Administration's scale.

It wasn't all bad news, however, as some areas received precipitation.

Some rain fell in parts of western Nebraska from June 26 through July 2, but western Kansas was extremely dry, weather maps showed. Also dry was the northern half of Iowa, along with parts of northeastern Nebraska and southern Minnesota, the agency said.

"Despite the dryness, Midwestern temperatures remained below stressful levels for reproductive corn and soybeans," the report said.

Parts of the Mississippi Valley, Plains and southeast all received more than double the normal amount of rain from June 27 through July 3, the USDA said. 

Parts of Arkansas and Louisiana saw more than 5 inches of rain during the week. 

Topsoil moisture conditions in the lower 48 states was 52% adequate or surplus, down from 57% a week earlier, the USDA said in a report this week. 

Subsoil moisture fell to 55% adequate or surplus from 59% a week earlier, the government said. 

Excessive-heat warnings are in effect for parts of Kansas, Missouri, southern Indiana and parts of several other states in the southern Corn Belt as temperatures rise, according to the National Weather Service.

In eastern Kansas and western Missouri, heat indexes are expected to reach as high as 105 degrees Fahrenheit today, the NWS said in a report early this morning.

"Extreme heat and humidity will significantly increase the potential for heat-related illnesses, particularly for those working or participating in outdoor activities," the agency said.

In southern Illinois and Indiana, values are forecast to top out at 112 degrees today.

In eastern Nebraska and much of western and southern Iowa, flood watches and warnings have been issued as excessive rainfall may continue throughout the day, the NWS said.

"Excessive runoff may result in flooding of rivers, creeks, streams and other low-lying and flood-prone locations," the agency said. "In addition to the heavy rain threat this morning, the potential for heavy rain continues through early evening as new storms develop this afternoon."

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