SRW managed a second day higher, and soybeans continued their rally over $13/bushel, but corn prices still dragged lower. Meanwhile, the livestock market was buoyed by rising outside markets and confidence in the economy. 

USDA’s weekly Exports Sales report did little for the market. Commitments last week were at the lower end of market expectations with wheat and soymeal both huge disappointments. 

Weather concerns remain modest as a ridge to the west and a trough in the east will push disturbances across the U.S. Midwest. Rains remain sporadic and below normal in central Brazil, which is particularly hard on the soybean crop. Moreover, dryness looks to be returning. Any replanting will have a domino effect as it...