USDA Report to Bring New Crop Yield Expectations

Futures for corn, soybeans, and wheat may have already reached new highs ahead of next week's crop report from USDA. December corn is being watched at the $550 level, while November soybeans are expected to reach $1324-$1325.

Analysts predict that the USDA will report lower numbers than previously estimated for corn and possibly slightly below expectations for soybeans.

Some producers have expressed concerns about the impact of heavy rain early in the season on crop yields, as it led to nitrogen leaching and reduced plant growth when heat struck.