The freshest 6 to 10 day forecast leans a little warmer and wetter than normal for the Heartland. This might be viewed as positive for crop development and negative for prices and spreads.
This afternoon's condition reports might offer some attitude to the market the rest of the week yet, it appears that there's little cause for concern foracoupleof weeks and it comes down to when the first killing frost occurs. We'll figure out harvested corn acres later.
Chicago wheat has lost some luster to KC and Mpls this past week yet there's still a lot of premium.The market is screaming for increased seeding for soft red this Fall and it pencils out to take a chance of getting wheat in the ground and double cropping beans in middle Illinois, middle Indiana, Kentucky, Tennessee and Ohio. Chicago over Kansas City in the new crop July contracts is historically abnormal.