On Monday, we saw pressure continue in corn and wheat markets while the soy complex found some strength on the day. Weather continues to play a factor with the forecast this week calling for cooler temperatures and more rains in the forecast for some areas. From high to low, December corn last week had fallen by over $1.00 per bushel. Wheat could not hold early gains, closing lower for the sixth straight day with more harvest pressure there as well. All of the grains will also be squaring positions ahead of Thursday’s Quarterly Grain Stocks and June Acreage report from USDA. Cattle were mixed after a neutral to friendly Cattle on Feed report last Friday while hogs were lower ahead of Wednesday’s Hogs and Pigs report.
Farm and Ranch Director Jesse Allen has our closing report: https://lightningstream.com/ajax/GetODFile.ashx?call=MIDWEST&fileid=1406
Also, more analysis with John Heinberg of Total Farm Marketing and Jesse Allen on today’s Market Talk below. Also, a look at this week’s weather forecast with Eric Snodgrass of Nutrien.