Ahead of the Open
Corn and soybean futures are poised to post strong weekly gains.
Weekly export sales were light, especially for old-crop corn.
Forecasts now signal hotter and drier conditions for late in the weekend and early next week.
Mostly favorable conditions for summer crop development are expected to continue for at least the next 10 days.
Cattle futures expected to open higher, hogs lower.
Weather conditions are expected to remain favorable through at least the end of July.
Weather remains favorable, if not ideal, for crop development, while trade uncertainty also continues to hang over markets.
Favorable weather, trade uncertainty and weakening cash livestock fundamentals will weigh on futures to open the week.
Corn and soybeans saw followthrough gains overnight, challenging the recent downtrends.
Soybeans saw relative strength overnight, supported by continued strength in soyoil.