The hot and dry weather is keeping Corn and Soybean futures prices inching higher. It's possible the rally will be short lived after rains from the Tropical Storms in the Gulf of Mexico hit.
Corn futures finished last week by putting in new contract lows at $3.20, closing the week at $3.21. Keep your eye on Wednesday’s WASDE report for new direction in the soybean market.
Last week corn futures tested a big level of support last week at $3.25 and held up; soybeans pushed higher after touching the bottom of the trend channel.