FOR MONDAY: (9/26) Weather forecasts continue to call for a wet weekend that will delay harvest in some areas. October outlook is for bouts of rain which will make harvest a challenge for producers across the Midwest. Still, while storms continue to fall across parts of the Upper Mississippi River Valley, maps over the next seven days turned drier for the eastern Midwest and official 6- to 10 and 8- to 14-day forecasts also show less rain for the eastern two-thirds of the growing region. Early week rallies on rain concerns are eroding.
We show grains lower into at least Wednesday and then maybe short-covering may develop before the stocks report. We would take partial profits on multiples. Cold storage had a 132% year over year increase in pork belly storage but month to month totals were not bad. Cattle on Feed report showed a larger placement on feed than expected and marketings were higher than expected. This may help the unrealized pattern completions from this week come in on Monday for sales and hedges
