TOP STORIES: 



  Corn Rises as Production Outlook Dips 


  Corn for December delivery rose 3.5% to $3.38 3/4 a bushel on the Chicago Board of Trade Thursday as new "prevented planting" data and uncertainty about recent wind storm damage have traders reconsidering their expectations for the 2020 harvest. Soybeans for November delivery rose 1.9% to $8.99 1/2 a bushel. Wheat for September delivery rose 1.1% to $4.96 3/4 a bushel. 


  Confirmation by the USDA as to how many acres U.S. farmers declared as unplanted under the prevent plant program lifted corn futures Thursday. According to the FSA, 8.99 million acres were enrolled in the prevent plant option with 5.37 million acres being corn and 1.22 million acres being soybeans. 


  Impossible Foods Raises $200 Million in Latest Funding Round 


  Impossible Foods Inc. on Thursday said it closed a $200 million Series G round of fundraising, bringing its total funding since startup to about $1.5 billion. 


  The company said the latest round was led by new investor Coatue, with participating from existing investors including Mirae Asset Global Investments and Temasek and new investor XN. 


  STORIES OF INTEREST: 


  Tropical Weather in Focus for Grains Traders -- Market Talk 


  10:43 ET - Weather patterns developing in the Atlantic Ocean will have a strong effect on the weather for crops in the US Corn Belt, says Terry Reilly of Futures International. "Weather in North America over the next few weeks will be largely determined by the tropics and the interaction of frequent tropical cyclones and the North America high pressure ridge," says Reilly. "An active tropical pattern will be firing up in another week to no more than ten days... the subtropical jet stream will bring frequent storms toward the southeastern United States and there will often be a trough of low pressure over the southeastern US that will limit moisture from flowing into the Midwest helping to reduce rainfall."  (kirk.maltais@wsj.com; @kirkmaltais) 


  Kraft Heinz Taps New Execs For US Business -- Market Talk 


  0833 ET - Like other packaged-food makers, Kraft Heinz has benefited from consumer pantry loading during the Covid-19 pandemic: in the US, 1Q sales rose 6.4% and 2Q sales gained 8.5%. The company will try to press its case in part with new hires like Cory Onell, who takes over as president of US sales and Sanjiv Gajiwala, its new US chief growth officer. Onell has worked for JM Smucker, Campbell Soup and other consumer-product companies, while Gajiwala worked for Mike's Hard Lemonade, most recently as a senior marketing executive. Despite recent sales growth in the US, a number of Kraft Heinz's products face pressure as consumers opt for fresher food and try new brands. Next month, the company is slated to discuss its strategic direction with investors, CEO Miguel Patricio said on a call about 2Q results. ( micah.maidenberg@wsj.com ; @MicahMaidenberg) 


  THE MARKETS: 


  Livestock Futures Turn Higher -- Market Talk 


  15:22 ET - Livestock futures on the CME closed higher, with hogs turning back up after recording losses for the past two days. Most-active lean hog futures finished 1.5% higher at 52.35 cents per pound, while live cattle finished 0.5% higher at $1.1015 per pound. Some livestock traders are looking ahead to September post-Labor Day, in which consumer demand is expected to dry up and get rid of the support for futures prices. "The challenge for the market will come in September as supply availability seasonally increases, the weather turns cooler (heavier weights) and retailers shift away from grilling items," says Steiner Consulting. "There is plenty of competition in the retail case at this time, with near record supplies . . . vying for a given space in the meat case." (kirk.maltais@wsj.com; @kirkmaltais)