Summary: A smaller global wheat crop fueled a rally even as timely rains fell in portions of the Corn Belt. For the week, September wheat rocketed higher by 78 cents or nearly 13 percent while the nearby corn contract added 27 cents. Technical buying coupled with less rain than forecast exacerbated the tight supply situation in the soy complex. For the week, the August contract expanded 76 cents. August meal improved $9.10 per ton. December cotton enlarged $2.22 per hundredweight. In the dairy parlor, August Class III milk lost 78 cents.
