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The International Grains Council (IGC) cut its 2023-24 global corn crop forecast, reflecting reduced production potential in the U.S. due to drought conditions.

AgDay TV Markets Now: Rich Nelson of Allendale discusses what the grain markets will trade Friday. Will weather trump the reports?

The winter wheat futures markets were again pulled down by another solid drop in corn futures prices. Weekly U.S. wheat sales were also disappointing.

USDA’s June 30 Acreage report is generally a big market mover, but early trade estimates show little change from March, while quarterly stocks estimates indicate tighter supplies than 2022.

Cover crops, reduced tillage and a simple water infiltration test help Adam Chappell capture and hold water and nutrients.

Corn had an ugly technical day removing weather premium. Soybeans bounced led by July ahead of the report. Wheat follows corn. Cattle bounced with lower corn, fund buying, hogs mixed pre-report. Rich Nelson, Allendale.

Even with rains sweeping the Northern Corn Belt last weekend, the latest drought monitor shows drought continues to spread across Illinois with D2 (Severe Drought) taking a 28-point jump in a week.

Corn lower as rains fall, while soybeans bounce off retracement ahead of reports. Cattle bounce off weak start on lower corn, light fund buying. Hogs consolidate pre-report. Scott Varilek of Kooima Kooima Varilek.

Grain try to bounce after hitting retracement and as drought expands, pre-report. Cattle consolidate with higher corn, hogs also set back before the report. DuWayne Bosse, Bolt Marketing.

AgDay TV Markets Now: As grains sink Chuck Shelby of Risk Management Commodities discusses strategies for farmers to market in these volatile times and with concerns about getting a crop.