Grain Futures Surge, Soybeans Lead the Way

The soybean and wheat markets closed higher, with corn posting gains, as extended hot weather forecasts raised concerns about crop conditions. Corn closed 6¢ higher, soybean futures were 23-to-26¢ higher, and wheat futures closed 15-to-23¢ higher. The stock market traded on both sides, with the Dow up 43 points, while the US dollar was down 20 points. Livestock futures were higher, with October hogs up $2.97, October cattle up 50¢, and November feeders up $1.22. The grain markets are higher, but off the early day highs, and the weather looks hot and dry through next week.