Chesapeake Energy meteorologist Mark Russo says this summer's extreme wet weather will finally dry out in August and we can expect drier harvest weather this fall.

He told attendees to the IFB Commodities Conference that the Midwest saw one of the warmest, wettest summers on record this year.  Even with a developing La Nina weather event, Russo said this year's rainfall was unusual.

While weather in the Corn Belt has been wet, Russo says farmers should keep an eye on weather developments in southern Russia.  He says they are experiencing a massive drought, similiar to our 1988 drought. 

In fact, concerns over the Russian wheat harvest pushed Chicago corn futures higher Wednesday.

Meanwhile, U of I ag economist Paul Ellinger told IFB members that economists remain split whether there is a need for more government stimulus or renewed austerity to bring the U.S. economy out of the doldrums.

He said farmers must keep watch on the value of the dollar and interest rates when making decisions. 

View some video interviews from Commodities Conference at FarmWeekNow.com.