FOR THURSDAY: (8/18) Severe storms may develop in South Dakota and Minnesota on Thursday and then in Nebraska and Iowa on Friday. Midwest weather turns cooler next week with rain likely. Rain lingers in Louisiana then but the heavier amounts move north. Recent rain and flooding in that state slowed exports as it slowed vessel loading.
Grain cycles turn lower Thursday and Friday and profit-taking may set in markets are near pattern completions at 1027 on Nov. beans and 342 on Dec. corn. Cattle still look lower into early Friday but COF report should create some short-covering. Hogs may also do short-covering into their reports.
