MORE RECORDS: September corn jumped 16.75 cents to settle at $8.245 a bushel, the second straight day of record highs. August soybeans settled up 23.75 cents at $17.575 a bushel. It was the third record-high price in a row.

DIRE OUTLOOK FOR CORN: John Sanow, a commodities analyst at Telvent DTN, says there doesn’t appear to be relief in sight for the crops. “It’s really too late for corn at this point.”

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MORE HEAT: The Department of Agriculture said in an online post that “searing, triple-digit heat and dry conditions will persist through much of next week” across the central Plains and the middle Mississippi Valley. As of Tuesday, 64 percent of the contiguous U.S. states are affected by drought, the USDA said.