Soybean, Corn and Wheat futures gained on heat and lower acreage.

Virginia McGathey analyzes the latest movements across agricultural markets, noting broad strength in Soybean, Corn, and Wheat futures. Extreme heat in the U.S. Midwest is introducing weather premiums into soybeans, driving November contracts higher amid growing crop stress concerns. Corn futures also found support from a lower year-over-year acreage report, which indicates a potential reduction in overall output despite aligning with general estimates. Meanwhile, wheat markets rallied as planting acreage declined across the board, with winter wheat down 5 percent and durum seeing a sharp 16 percent drop. McGathey also highlights rising option open interest and shifting CVOL metrics across all three grain markets.