Weather Now Driving Force for Grain Markets

July 13, 2016 01:45 PM
 
 

Corn and soybeans markets were bullish Wednesday following USDA’s report, but weather is now the driving force, according to Pro Farmer Editor Brian Grete.

Favorable weather across the Corn Belt could make the market an “uphill battle for bulls,” Grete explained to AgDay. “Forecasts right now call for hot conditions, but not oppressive heat, and they call for above normal temperatures as well."

Weather forecasts will give soybean traders “something to chew on moving forward as weather will be the key there as well,” and wheat  (prices) will follow the corn market until the winter wheat harvest is in, Grete added.

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