After consecutive years of drought, some areas of Texas are now breaking records for the wettest May ever. With most of their crop left to plant, it’s forcing farmers to make some tough decisions and crop changes.

AgDay TV Markets Now: Randy Martinson with Martinson Ag says grains rally on Friday as funds buy heading into the weekend and put in weather premium, cattle are in record territory. Will it continue?

July soybeans traded in an 84 1/2 cent range last week. Trading to their lowest levels since January 2022, but rebounding to post the highest closing price since May 16th.

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The House overwhelmingly approved a debt ceiling bill that also curbs federal spending, causing House Speaker Kevin McCarthy (R-Calif.) to hint at further tightening work requirements for safety net programs.

After a volatile week, Jerry Gulke was encouraged corn and soybeans closed higher Friday and near session highs. That tells him the weather market, which is still in its early stages, hasn’t run out of steam.