Big fund selling and WASDE this week

Overnight- Corn and soybean futures higher with wheat lower.

Funds laid into the grain and oilseed markets in the last report.

MM sold 80k corn contracts & 45K soybean contracts.

Net short 212k corn and 60k soybeans.

We will see if they buy some back before June WASDE on Wednesday.

We will get more into what we are looking for in the WASDE the next two days.

We will get the 1st soybean conditions report this afternoon and the market is looking for 70% GTE.

Will corn condition ratings hold steady or set back a little as we have heard reports of some rough looking corn in areas.

On the macro scene- CPI & PPI are released Wednesday & Thursday and the Fed meeting on Wednesday.

Weather heats up in the 6-10 day and does that push the market a little higher in the short term?


Will the funds continue to sell into a busy week or will they trim back some short positions before WASDE? We need to see trade above 4.61 & 12.00 in the July contracts for some bullish sentiment. NFC Grain Comments Options -new (60)

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