Upside Momentum Loses Steam in Grain Markets

 
Upside Momentum Loses Steam in Grain Markets

Corn and soybean futures posted losses for the week, hinting the strong rally from the mid-June lows is losing momentum. Cyclical analysis signals these markets are likely to be lower into August. Wheat futures were also lower this week and needs support from corn or soybeans to avoid further declines.

Another week of "mixed" weather for crops has us expecting little change in crop condition ratings for corn and soybeans next week, but the hot and dry outlook for next week could raise some new concerns for the crops. We have economic expectations from LaSalle Economics President Vince Malanga -- and much more -- in this week's newsletter.

Pro Farmer Editor Brian Grete highlights this week's newsletter below:

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