Early morning gains gave way to afternoon losses in the CBOT markets while livestock futures were steady/higher. The weather remains moderately bullish row crops. This weekend’s weather was unusually hot and dry across the U.S. Midwest and Southern Plains. Unfortunately, this looks to be the first of several such spells, with hot weather again returning at the end of this week. While late-May heat correlates poorly with eventual corn and soybean yield losses, the present weather pattern suggests the summer will be hotter and perhaps drier than ideal.  Elsewhere in the world, the Black Sea remains under a warm/dry spell while the spring wheat crop in Russia is too cool/wet. To date, approximately 60 percent of Russia’s spri...