Crop conditions in Nebraska dropped three-percent for both corn and soybeans last week and are likely to drop even more after this week’s extreme heat and dryness.

A nice rally in grains Thursday, led by soybeans and meal and talk of China export business. Cattle set back on profit taking, hogs rebound with discount in deferred contracts to the index.

Corn and soybean markets have continued to be volatile with weather and crop size still uncertain. Darren Frye of Water Street Solutions about a marketing strategies going into harvest.

Grains continue strong at midday with soybeans and meal leading with talk of China export business. Hogs are mixed with the LHI topping and cattle seeing profit taking after a chart breakout and higher cash yesterday.

The IRS finally updated their Farmer Tax Guide to indicate famers can defer the yield portion of revenue protection crop insurance policies. You cannot defer the price portion.

Grains continue recovery Thursday morning, despite slow exports. Livestock leaning lower. Michelle Rook gets insight from Kent Beadle of AgSurion Risk Consulting.