Grain Markets Commentary
Weather Forecast Tough on Prices
Corn and soybeans took the day off on Friday finishing 5 and 7 lower respectively.
Both worked their way into positive territory midday before giving way to selling
pressure into the close. Negative momentum carried into Sunday night with gap
open lower in most corn and soybean contracts. Weather is very supportive
production and negative price this week. We still have issues up north as they will
not get the accumulation that the heart of the Midwest will get the next 7 days.
Demand is still hot and we will see if China is looking to buy anymore new corn this
week. We will see if value buyers step in this morning after the last night selling. See full report for more information on outlooks, technicals, and weather updates.
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