FOR TUESDAY: (8/2) Warm and wet conditions are like a greenhouse—not fun to live in but great for growing. Beans are losing their fear premium. While temperatures turn warmer into mid-August, storms continue to rumble across the Corn Belt with maps for the next seven days showing coverage in most areas. Official 6- to 10 and 8- to 14-day forecasts out yesterday are warm but wet, supported by the latest updates this morning. New forecasts for August issued Sunday confined above average temperatures to the Southwest and West, by-passing most of the Corn Belt, with above average precipitation predicted from the I-90 to I-70 corridors as far east as central Indiana.
Nothing friendly in the crop reports. Breakdown to lower levels on Tuesday seems inevitable. Hogs and cattle are indicating lows in and can be bought on dips until August 12. Hard to chase after near limit-up cattle moves.
