Both corn and soybeans saw prices rise last week on news of storm and drought damage decreasing yields in the Upper Midwest. 

Soybeans for Nov­­ember delivery reached into the $9.50 range on Aug. 28, matching prices not seen since January. At the same time, corn matched its July highs, hitting $3.60 for December delivery.

The U.S. Department of Agriculture (USDA) announced last week that Iowa corn crop conditions were split, with 50% considered good to excellent, while 50%...