MARKET COMMENTARY

The corn and soybeans markets are calm this morning after the sharp drop in prices yesterday.  The bears in the trade are hoping that history repeats itself: in 13 of the last 15 years when the market opens down after the 4^th of July holiday – it ends the month lower. All you have to do is look at the weather forecast and you can also make the claim (or guess) that the markets will continue to leak lower.  It may not have to happen all at once though… after all, the corn market has dropped almost 10% in the last 5 days!  That could be enough for now.

Opening Calls

Corn steady to 1 cent higher

Soybeans 1 to 2 cents lower

Have a great day!

@fccoopgrain