From the first USDA World Agricultural Supply and Demand report, after the American federal shutdown, on markets analysts had been saying field commodity prices would be soft this year, unless there was a weather story. Millions of unplanted acres in the United States qualifies as a weather story.

Rain and cool conditions have kept farmers out their fields and, after a Wednesday side, the markets, like Midwest water continued to rise.

July corn futures closed up US17.5 cents today at $4.36 per bushel, with December climbing 16.5 to $4.52. Volumes were lower today, as trades took a few minutes to catch their breaths.

Soybeans on Chicago were up again, climbing 17 cents on the day, reaching $8.89 for July contracts, and November cracking $9 to get to $9.15.

Friday will see a release of the US export tallies and Monday the crop condition report, so Friday might see more bidding initiatives as firming information comes to bear.

Wheat was the big winner on the day, after a big drop on Wednesday. Rain continues to fall in the eastern Plaines, where only a month ago analysts were handing out impressive crop condition reports.

Hard red spring wheat, Minneapolis July contract, was 14.75 cents higher, reaching $5.43 per bu.

Canola closed on ICE for July at C$460 per tonne, up $1.80. November was $473.40, putting on a $1.10 on the day. May 2020 was up $1.40 at $485.80.