Last week, grain futures markets showed signs of life with corn leading the charge. Bullish weekly high closes were seen on December corn, November soybeans, December SRW wheat, and December HRW wheat futures. Speculators are expected to drive follow-through buying this week.

The corn market may see a change in price-bearish conditions as hotter temperatures and drier weather are forecasted for the Midwest. Some areas in the Corn Belt are experiencing corn-pollination issues, but the extent remains unknown.

U.S. trade deals and export demand for corn will become more significant once the size of the U.S. corn crop is better understood. Last week’s USDA export sales were disappointing for corn market bulls.

Soybean futures saw price gains last week, with soybean meal driving potential price advances in the soybean complex. Weather conditions in the Midwest will be crucial for the soybean crop through August and early September.

Improved U.S. export demand for soybeans is necessary for sustained price uptrends. New U.S. trade deals, especially with China, will play a pivotal role in boosting global demand for U.S. soybeans and meal.

Soft red winter and hard red winter wheat futures saw temporary halts in near-term downtrends as prices rebounded from technical support levels. Wheat futures may have put in near-term price bottoms, pending support from corn and soybean market rallies.

Favorable weather conditions are aiding the U.S. winter wheat crop, although commercial hedge pressure from harvesting may limit further price advances. Drought conditions in the U.S. northwest are affecting spring wheat production.

A trade deal between the U.S. and Indonesia may boost demand for U.S. wheat. Indonesia is the world’s largest importer of wheat, potentially benefiting the U.S. wheat market.

Read more at Yahoo Finance: Left for Dead, Grain Market Bulls Now Have a Pulse