Grains Market Update: Corn Pauses at Two-Month High, Soybeans Rally

Corn prices rose to a two-month high early in the week but then paused to end the trading period as bulls caught their breath. The December corn futures market was up by 20 cents for the week, closing steady at $4.87 1/2 near mid-range.

The world weather forecast suggests that most of the Midwest will see two more weeks of favorable conditions for corn pollination and other crop development, with high yield potential expected in most areas into the first week of August.

However, there are concerns about low soil moisture and heat stress in parts of the west-central and northwestern Corn Belt. Temperatures are not expected to be hot, but heat will still stress crops in these regions over the next 10 days.