Heatwave Concerns Lift Corn and Soybean Prices

Wheat midd values pushed higher in the Buffalo market ahead of the fourth of July Holiday.  Downtime at some of the mills is creating a short-term supply shortage and lifting prices.  Prices are expected to come down after the Holiday shortened week and forecast to be in the $145 to $155 FOB range.  Analysts expect values to take another leg lower in October.

Corn, soybeans, and wheat also are seen rallying ahead of the Holiday.  However, this is more of a weather-related phenomenon.  The market is focused on the heat scorching much of the west coast from Canada down to our southern border.  Current forecasts have the heat moving from the west coast and moving into Iowa by the end of the next week. 

Recent rains in the Midwest…