A flood warning has ended for the Town of Grand Valley, but caution is still being urged for areas further down the Grand River watershed.

In Elora, for example, flows are expected to reach the boardwalk behind Mill Street on Wednesday.

Parts of the watershed saw as much as 40 mm of rain fall early Monday.

The Grand River Conservation Authority says it has increased the amount of water being discharged from the Shand Dam and Conestogo Dam, in order to maintain storage capacity in the reservoirs.

At St. Jacobs, the low-level bridge has been closed due to a high-flowing Conestogo River.

According to the GRCA, low-lying areas in Waterloo Region, Wellington County and Guelph are at risk of flooding Tuesday, with the peak water levels flowing south as the week goes on.

The flood potential could be buoyed by a further 20 mm of rain currently in the forecast for Thursday.