The trade eyes fresh demand, South America crop plans.
The Pro Ag yield models rose this week to 176.3 bushels for corn and 48.05 for soybeans.
The market is watching for increased demand to support a rally.
The trade is eyeing exports more than crop ratings.
Large corn and soybean supplies might be expected to result in issues with handling and storing the 2016 harvest, which may influence the futures market.
The true story about cattle supply is that calf/cow producers are no longer in expansion.
Uncertainty can imply a massive range of prices.
Cattle futures have experienced a strong bump in prices over the last two weeks, with October futures trading from under $106.00 per hundredweight to over $116.00, topping on August 4 at $116.35.
The hog industry could face further price declines with higher production.
The U.S. cattle herd has made strides since the 2014 lows, but prices and exports have yet to fully recover.