29-day cycle might allow a recovery for grains

FOR FRIDAY: (7/29) Month-end position-squaring by funds and the 29-day cycle might allow a recovery for grains, and usually they are higher after August 1 for a few weeks. Temperatures in the mid-90s are forecast Monday through Wednesday in Nebraska and Iowa, and in the 80s to low 90s elsewhere. The 6-to 10-day outlook (Aug. 2-6) favors a 70% to 80% chance for above-normal temperatures for the eastern half of the country then. That forecast has mostly normal chances for rain then. Wheat finished lower ahead of big harvests in Europe and the Black Sea. A wheat tour in the Dakotas expects a lower average yield there and that supported spring wheat futures at times before they also closed lower. Meats continue to be difficult. Feeders came off 5.00 off of their highs. Contract rollover out of August meat contracts may continue for late-dwellers.