Kinda the wrong time of year to be cutting cane, IMO. Late winter when the sap is down is better. I've found cane to be pretty "juicy" during the growing season.
Anyway, if you can lay it out up on a flat surface in your attic to dry, that would be best. I bundled some up to dry before, and stuck it in my garage. When I un-bundeled it several months later I found black mold spots on the surface of the cane. It was just a cosmetic issue, but when I go through all the work of making a cane arrow I kind of like it to look nice...