Weather patterns and market trends affected grain and livestock futures according to the weekly podcast Ag Commodity Corner+ Podcast hosted by experts Farms.com Risk Management Chief Commodity Strategist Moe Agostino and Commodity Strategist Abhinesh Gopal.
Despite a strong Brazilian corn crop and higher U.S. production, fund managers are starting to price in a weather premium, with short covering seen in the December corn contract.
Corn seasonality is in play, and if the weather cooperates, a late summer rally could develop.