FOR TUESDAY (9/6) Grains continue their rebounds and may hold up into Monday night. Weather forecasts remain favorable for corn and soybeans with drier weather in the Midwest the next few days. Hot, wet conditions are forecast there next week. Tropical storm Hermine is moving across northern Florida and is expected to track north along the Eastern Seaboard and bring heavy rain to the Carolinas. Ample global wheat supplies have kept pressure on prices. Forecasts keep rain in the central Plains next week, which should help the winter wheat that will be planted this fall.
Trade could congest into the Sept 12 crop report but so often final harvest pressure hits it thereafter. We are bearish most of next week. Hogs may hold up if Carolina rains inhibit marketings and that state and Iowa contain 43.1% of the United States hog inventory. Cattle needs to bounce a few days and hit key support.
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