Market Overview
Grain markets finished the month under heavy pressure, with wheat leading the declines as traders continued to liquidate positions following last week’s rally.
Despite ongoing Black Sea tensions, wheat futures fell sharply as optimism surfaced that Ukraine may be working to expand export routes. Corn and soybeans also traded lower after beneficial rains reached portions of the western Corn Belt.
Meanwhile, cattle futures extended their recovery, while hogs posted a modest bounce after a difficult week.
🌦️ Weather Outlook
Rainfall provided relief to several key production areas, helping reduce some immediate weather concerns.
Recent precipitation benefited:
Eastern South Dakota
Eastern Nebraska
Iowa
Forecasts also call for moisture moving into:
Wisconsin
Michigan
Illinois
Another chance for rainfall is expected next week across parts of the Corn Belt.
North Dakota, however, largely missed the recent rainfall, with only isolated pop-up showers in some locations. Rain chances for early next week have also weakened, leaving much of the state in continued drought stress.
🌽 Corn
Corn futures continued lower as traders reacted to improved rainfall across major producing states.
While North Dakota remains dry, the market continues placing greater emphasis on
