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Soybeans, Corn Futures Rally on Wet Weather Woes

Excess moisture in U.S. Midwest gives boost to corn futures

Field thunderstorm rainy meadow

Chicago soybean and corn futures gained strength on Monday, as uncertainty has re-emerged in the weather forecast for much of the U.S. grain-producing states.

Reuters reports forecasts of cooler and wetter conditions across the U.S. Midwest raised new concerns about how much of the current crop might be lost -- as well as how much of the corn and soybean yields might be hampered by the stress of excess moisture.

Crops in as much as 30% of the Midwest is at significant risk for rain-related stress in the coming days, particularly in the Plains and portions of the western Midwest.

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