The outlook for the livestock industry calls for tight supplies of cattle and high prices for beef.

Corn production would be a record high.

Grain markets turn higher on disappointing rainfall and forecasts for warmer, drier weather.

Crop condition ratings will be top of mind for analysts.

Wet weather slows planting progress and may lead to reduced yields.

Some analysts forecast from 1 million to 3 million acres may not be planted due to wet weather.

Forecasts call for more rains later in the week that could further delay fieldwork.

Widespread severe weather hampered planting in parts of the Midwest.

Corn plantings were 28 percent complete, far behind 85 percent at the same time in 2012.