Is drought back? Grains rally

|By:, SA News Editor

Soybeans lead big gains in the grains after the Pro Farmer tour suggests a harvest lower than the USDA prediction and DTN forecasts more hot, dry weather in the Midwest for the next 7-10 days.

November beans +3.9%, December corn +3.6%, December wheat +1.5%.

"The market's increasingly getting a bit nervous about the soybean crop," says an agricultural economist with ANZ.

ETFs of interest: CORN, SOYB, WEAT. JJG, GRU.