Grain prices have found legitimate traction over the past several weeks. Corn prices firmed by around 11% since the first of August, while soybean futures climbed well above $9 per bushel in the past two weeks.

The forward momentum has been in large part to a weather rally, but that rally appears to have fizzled out. It’s likely that traders will now await fresh supply and demand from USDA’s September World Agricultural Supply and Demand Estimates (WASDE) report, which will be released next Friday.

What will it take for grain prices to climb even higher moving forward? We talk through the latest opportunities and obstacles that are currently in play.

Listen to the latest Midweek Markets podcast for September 3, 2020:

Farm Futures Market Update · 090320midwestmarketpodcast