Agriculture News
Corn and soybean futures are poised to post strong weekly gains.
Changes are coming to the weather pattern that will produce hotter temps and high relative humidity across areas of the U.S. through next week, inducing some crop stress.
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Cash cattle averaged the second highest price on record last week.
Only 9% of corn area and 7% of beans is covered by drought.
Above-normal rainfall is expected in the far eastsern Corn Belt, Delta and Southeast through October.
SRW and HRW basis improved despite ongoing harvest.
Weekly export sales were light, especially for old-crop corn.
Corn and soybeans pulled back from recent gains overnight, while wheat also weakened.
Forecasts now signal hotter and drier conditions for late in the weekend and early next week.