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Soybean futures sharply extended this week’s price surge overnight amid forecasts calling for hot and dry conditions in early August. Corn and wheat also posted strong gains.

Soybeans futures surge to four-week high on impending Midwest heat wave; corn, wheat also firmer.

Farm diesel prices are falling but still 75% above year-ago.

Rains fell over the Corn Belt though traders are focused on forecast dryness, Manchin caves on spending package and spring wheat yields continue to impress...

As of July 26, 68% of the U.S. was experiencing abnormal dryness/drought, down one percentage point from the previous week, but flash drought intensified over parts of the Great Plains, Ozarks, and Mississippi Valley.

Soybean futures climb to two-week high, corn firmer, on hot Midwest forecast; wheat also higher.

GDP fell 0.9% in 2Q, second straight decline and a strong recession signal

Weekly export sales this morning for week ended July 21 revealed a continued theme of sluggish new-crop corn and old-crop soybean sales. New crop soybean sales were the bright spot; well above expectations.

Corn and soybean futures were supported by followthrough buying overnight amid forecasts calling for hot and dry conditions next week, while wheat rebounded from Wednesday’s losses.