Pro Farmer
Chicago Federal Reserve Bank Also Finds 4% Quarterly Gain.
Creighton’s monthly survey finds growing pessimism.
Timeliness of summer rainfall will be key across western Corn Belt and Plains.
Weakness was featured in cattle and beans while grains have begun to show more resilient strength.
Surprise news out of the EPA undercut recent bean rally.
Cattle futures plunged for the second straight session.
The Seasonal Drought Outlook calls for drought to persist or develop across the much of the western Corn Belt and Plains through August.
Soy stocks historically come in tighter than estimated.
Wheat continues to lead strength. Old-crop corn saw impressive strength this morning following higher than expected export sales.