Ongoing heatwave conditions across southwest China, with Chongqing recording multiple days above 37°C in mid-July including a 40°C peak on July 10, underpin trader focus on 39–41°C outcomes for July 25. Short-range models show consensus near 37–40°C amid high humidity and limited cloud cover, though slight disagreements on afternoon convection or steering patterns create the tight spread between those bins. Historical July maxima average 33–37°C, but 2026’s elevated baseline and persistence of the subtropical ridge favor the upper end. Official China Meteorological Administration updates and next model runs within 48 hours remain key variables that could shift implied probabilities ahead of the daily high measurement.