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Soybeans led weakness overnight as prices broke down out of the sideways pattern that limited price action most of this week.
Dangerous heat wave over much of Midwest, Southeast
Cotton prices continue to be mostly sideways
Market remains keyed in on U.S. weather, ignoring bigger picture
China buys meaningful amount of U.S. corn for first time in over a year.
Oppressive heat lingers over Midwest, Plains
Veronia Nigh, economist at The Fertilizer Institute, says there are three key drivers in fertilizer right now.
Soybeans led corrective strength overnight, corn pivoted near unchanged and wheat saw relative weakness, giving up a portion of recent losses.
Warmer-than-normal weather in Midwest through the rest of July
December futures are poised to break higher, but need some help.
Corn, soybeans and wheat each saw weakness early in the overnight session.
Grain bulls are fading early this week
A mid-level high pressure ridge will bring heat throughout much of the Midwest.
Corn conditions continue to remain favorable