Soybean and corn futures surged last week, with soybeans hitting a two-month high and corn gaining after the Pro Farmer Crop Tour revealed diseases in the Corn Belt. Projections show a lower corn yield than USDA estimates, with concerns about disease impact on yields in upcoming weeks. Soybean yields are slightly below USDA projections.

Traders are digesting Crop Tour results and focusing on market fundamentals. A drop in the U.S. dollar index and strong corn and soybean export sales are bullish indicators. Weather in the Corn Belt looks favorable for soybean futures, with drier conditions expected to advance corn maturation. However, certain regions may see increased stress on soybean crops due to dry conditions.

Winter wheat futures struggled last week, with soft red winter wheat gaining slightly and hard red winter wheat hitting a contract low. Technical selling continued with bearish chart postures. Winter wheat markets will look to corn and soybean futures for price direction. Spring wheat harvest progress in the Northern Plains will also be monitored.

Overall, the grain markets are showing bullish signs after the Crop Tour results, with traders watching market fundamentals and weather conditions closely. Soybean and corn yields are a key focus, with potential impacts from diseases and dry weather in specific regions. Winter wheat futures are facing technical selling pressure, while the market awaits further direction from corn and soybean prices.

Read more at Yahoo Finance: Corn and Soybean Bulls Are Coming Back to Life