Even though we are in the midst of the U.S. harvest season, there remains a considerable amount of attention on current weather conditions.
Late-season conditions have reduced yields in recent years, and given the fact this year’s crops are already under stress, it won't take much to shave yields even more.
The most concern with this is on soybeans, where stocks-to-use is already at a minimal level, but the United States cannot afford to lose any corn production either. There is still time for weather to affect crop quality, which can have a significant impact on overall production as well.
Weather really is becoming a perpetual factor in price discovery as global grain and soybean production is now almost never-ending. This is especially the case on wheat, where harvest takes place every month of the year in different regions of the world.
As weather attention starts to shift away from the United States, more will be placed...