Dr. Michael Cordonnier says rain helped to maintain good soil moisture last week, mitigating some of the potential harmful impacts of high temps.
The forecast calls for above-normal temps across the Corn Belt, raising moisture requirements.
There is certainly a chance that recent pork loin and rib weakness will set up the market for an exaggerated September surge, but the late-2016 hog and pork outlook does not look encouraging.
Corn ended the day mostly 2 cents lower, with soybeans 7 to 9 cents higher. Wheat posted a daily loss of 10 to 14 cents. Cattle were higher and hogs were weaker.
Our weighted Crop Condition Index for corn rose by 0.28 points from last week and soybeans rose by 0.08.
Rain in the forecast for Mid-South into the northern Mid-Atlantic Region...
Soybeans and corn were pressured by forecasts calling for non-threatening weather into early August. Wheat futures were supported by European crop woes. Cattle futures surged on short-covering after last Friday’s mildly friendly Cattle on Feed Report.
Corn and wheat at high end of expectations...
As of Wednesday, July 27
Feels Like 71°