Harvest reports & big hog business
The combines are kicking up dust in the Midwest, with some farmers already moving into soybeans.
Some corn yields in Illinois are coming in better than expected, with some in the west-central part of the state ranging from 120-220 bushels/acre.
The grain markets were up and down this week, though one economist said this week the soybean market may be too low considering recent corrections in other pits.
While the grains were up and down this week, the cattle markets shot higher, a sign that the drought-shortened calf crop in the southern Plains may be "starting to show up."
This week, meteorologists said signs point to a likely repeat of last winter's conditions, with cold temperatures and above-average precipitation in much of the Midwest and drier conditions in the Plains.
The big annual Pork Powerhouses report was released this week, showing the 25 largest U.S. pork producers grew by 84,000 sows this year.
This fall's harvest prices for federal crop insurance will be determined in October.
This week saw a big boost to the cellulosic biofuels business, with the announcement of a big-time payout for producers of ethanol and biodiesel from alternative sources. The payouts to refiners will add up to about $80 million.