Wheat
Still a lot of rain is needed to end the long-lasting drought in the Southern Plains.
Showers also benefit crops in Australia.
But near-term outlook is promising for meaningful rains in the Southern Plains.
As farmers face the probability of low-quality wheat -- in some cases below quality standards for milling -- they can look for alternative markets for their crop.
Rich Nelson of Allendale says corn and soybeans showed resilience rallying into the close on strong demand. However, he thinks it may be exporters front loading their purchases. Cattle reverse in reaction to the McDonald’s E.coli story.