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Weather bear hanging over grain markets

Weather isn’t doing the grain markets many favors right now.

DTN lead analyst Todd Hultman says there are areas of ‘haves and have nots.’

“But overall, we have to say friendly for crops.”

He tells Brownfield timely moisture has helped offset negative effects of a hotter-than-normal July.

“And really, we are left with not too many overly dry areas across the Corn Belt. Probably West-central Iowa is one of the more famous places right now that could still use more rain.”

Hultman says beneficial rains just moved through dry parts of Indiana, Ohio, and Michigan.

“So overall, the crops are so far getting the moisture they need at the time they need.”

Hultman says near-term and extended forecasts seem to be influencing prices more than weekly crop condition ratings at this point.