Weather will be the focal point next week as heat is expected to build, especially in the northwestern Corn Belt, where extreme temps are likely. Wheat has taken on a rare summer leadership role.
Some profit-taking moved into the corn and soybean markets, while spring wheat continues to rally, pulling winter wheat futures higher in the process. Cattle and hog futures saw a choppy day of trade.
Hot, dry forecasts for August bolstered grain and soy futures.
The corn and soybean markets built on Monday’s gains, with live cattle and lean hog futures also climbing.
A rally in spring wheat futures provided spillover support to corn and soybeans.
Get a breakdown of the need-to-know items from today’s WASDE and Crop Production reports.
After the Bell | July 9, 2021 Mild Midwest weather outlook keeps corn under pressure as markets await USDA Supply and Demand report.
Ahead of the Open | July 9, 2021 Corn, soybeans seen weaker with more rain in Midwest forecast, wheat mixed.
After the Bell | July 8, 2021 Corn sinks to six-week lows, soybeans mostly down, as Midwest weather favors crops.
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