Trading in U.S. grain futures resumes Monday evening at 7 p.m. CDT and traders will be paying close attention to the latest weather forecasts and any reports of freeze damage over the weekend. On Tuesday, ISM's index of U.S. manufacturing is set for 9 a.m. and USDA's weekly grain inspections report is due out at 10 a.m. USDA's Fats and Oils report will have a soybean crush estimate at 2 p.m., followed by Crop Progress and the first report of U.S. corn crop conditions at 3 p.m. CDT.
Weather
June begins on a dry and very warm note in northern and central crop areas. Rain will focus in the far southern Plains and portions of the Delta. Excessive heat adds to dryness stress in the western and northwestern crop areas as well. The seven-day outlook features heavy rain south, moderate amounts in the southeastern Midwest, and little to no precipitation for drought areas of the northern Midwest, Northern Plains and the Northwest.