December corn futures reached a four-week high, gaining 8 3/4 cents last week due to short covering and bargain hunting. Below-normal rainfall in the Corn Belt may impact crop yields. U.S. corn prices remain strong despite expectations for a record yield. Harvesting begins in mid-October, with trade deals and China negotiations influencing market trends.

Soybean futures saw gains from corn but soybean meal futures are concerning. Prices need to surpass resistance at $10.74 1/4 to maintain an uptrend. Dry conditions in the Midwest could affect soybean yields. Harvesting will increase hedge selling pressure, with China’s import decisions impacting prices.

Wheat futures saw short covering but remain in a downtrend. Weather is favorable for fieldwork and harvesting. With reduced planting expected for next year, export demand could boost prices. Cotton futures dropped last week due to bearish sentiment. Market volatility and the Federal Reserve’s interest rate decisions will influence cotton prices. Trade deals and China’s imports will also affect the market.

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