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Farmers in Iowa are trying to stay optimistic but say the next two weeks are critical for getting some rain or they’ll be seeing significant yield loss.

According to USDA, Russian-speaking hackers are the likely suspects. The Office of Personnel Management and two organizations within the Department of Energy also were apparently targeted or breached.

A flood of Brazilian soybean cargoes into China is weighing on soymeal purchases and may curb buying of beans later in the year, traders and analysts told Reuters.

Tomm Pfitzenmaier, Summit Commodity Brokerage, says grains rallied on weather and the drop in crop ratings and subsoil moisture. The markets pushed through chart resistance and could see continued buying.

The Clean Air Act (CAA) allowed for exemptions to be granted for small refiners, a topic that has become controversial in recent years, prompting EPA to reverse some prior granted small refinery exemptions (SREs).

Illinois crop ratings have dropped like a rock with only 33% of soybeans and 36% of corn rated good to excellent in this week’s USDA crop progress report.

Under the bill, the USDA and the FDA would become members of CFIUS and their powers would be expanded to better consider ag needs when it decides if a purchase would create national security risks.

Grains rally on weather, drop in ratings, subsoil moisture, fund buying. How much upside is left? Cattle consolidate w/ corn up. Profit taking in hogs w/higher meal. Tomm Pfitzenmaier, Summit Commodity Brokerage.

A bull-blown weather market is playing out in the soybean and corn futures markets, which propelled soybeans and meal today.