Limited price adjustments on grain and feed items were reported this week with most participants trading steady or sitting on the sidelines. Conditions in growing regions have become of high concern with some regions showing increased drought in recent weeks. This has led to crop maturation on corn ahead of usual schedules, affecting quality, as well as heightened market unease about 2023 yields.

Based on the most recent information from Drought Monitor, the Southern US as well as the Corn Belt regions have higher levels of drought. From June 27 levels have increased in both of these regions due to high heat and lighter than average precipitation (Fig. 1)

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