Corn and wheat sales within expectations; beef up from week-ago, pork lower than prior week.
Corn is mostly 3 cents lower with soybeans turning mixed after a firmer start. Wheat is also mixed. Cattle are higher and hogs are lower.
The International Grain Council raised its 2016-17 total global grains carryover peg by 6 MMT from last month to 488 MMT, up from 471 MMT in 2015-16.
Ohio now has 75.6% of its area covered by drought, while a 10-point improvement was seen in Iowa this week.
Hot weather returns to nation's midsection early next week.
Todd "Bubba" Horwitz says watching price too actively will first give you indigestion if it's going the wrong way and false excitement if going the right way.
Corn ended the day 2 to 3 cents higher, with soybeans up 11 to 17 cents. Wheat was mixed and live cattle were firmer. Lean hog futures were sharply lower.
Rain expected for Plains, Midwest, Delta into Mid-Atlantic.
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.
As of Thursday, July 28
Feels Like 80°