USDA said 30% of the corn crop and 41% of soybeans were harvested. Corn and wheat are in uptrends since Sept. 4, while soybeans stall.
Corn ended the overnight session 1 to 2 cents higher, with wheat 4 to 6 cents higher. Soybeans ended narrowly mixed. Cattle futures are due for a short-covering bounce and lean hogs are being supported by strength in the product market.
Market Rally Radio host Chip Flory answers a question about how 2011 yield averages might compare to this year's and looks ahead to near-term temperature and precip forecasts.
The condition of the corn and soybean crops improved, but market focus is on harvest, which is 42% complete for soybeans and 27% complete for corn, as of Sunday.
Corn ended 4 cents higher, with soybean up 9 to 10 cents. Wheat ended 1 to 3 cents higher. Cattle ended lower, with lean hog futures mixed.
After a dry start to the season, better-than-expected yields were revealed as the Canadian wheat harvest advanced in September due to late-season rains.
Soybean futures are 10 to 11 cents higher, with corn up 1 to 2 cents. Wheat futures have seen a choppy morning of trade.
For the Midwest, mild, mostly dry weather is maintaining generally favorable conditions for corn and soybean maturation and harvesting, as well as soft red winter wheat planting.
Wheat shipments the week ending Oct. 1 came in about as expected. Get more details from the report.
As of Tuesday, October 6
Feels Like 58°