Corn and soybean futures had a stormy week as producers, traders, and end users tried to track the weather and growing conditions across the country. Both crops are at a critical point in the growing season when high temperatures or dry weather can threaten yields.
Uncertainty about forecasts is causing the futures to shift into a so-called “weather market” that vacillates with every update.
As of midday Friday, markets were dropping due to overnight rains, pulling December corn futures down to $3.97 and November beans to $10.20 per bushel.