After six consecutive weeks of higher corn prices, traders will keep watch over the latest weather forecasts and perk up at 8 a.m. CDT to see if USDA has another corn sale from China to report. USDA's weekly grain export inspections report is due out at 10 a.m. CDT, followed by Crop Progress at 3 p.m. CDT.
Weather
Light to moderate rain is in store Monday for the southwestern and far Southern Plains along with the lower Delta. We'll also see a few light showers in portions of the northern Midwest and Southeast. Other primary crop areas will be dry. The southwestern Plains rainfall is timely and beneficial for developing winter wheat. During the past weekend, beneficial moderate to locally heavy rain was also noted in portions of the dry Northern Plains and the western Midwest. Temperatures stay cool one more day before trending to more seasonal ranges.