Cornfield, corn
Corn: Most fundamental talk Monday circulated around too much Argentina rainfall as they look to pick up 2-4 inches of rain through Wednesday. This should start trade talking about switching a few acres from corn to beans. Other talk was about the Mississippi River level continuing to drop. At this time, it is tough to tell just what influence this should have on the corn market. So far, corn has gone both up and down while that talk has been kicked around this market. As for now we will continue to see that as bearish as not being able to export the corn could result in a further slowdown in sales. More light volume selling is expected this week…Ryan Ettner
Soybeans: Monday's export inspections came in at a positive 51.082 million bushels. Last week’s shipment’s totaled 48.588 million bushels. It looks like shippers are doing everything possible to ship grain out of the country before the potential shutting of the Mississippi River shipments. Allendale recommends that end-users and producers that want to be long beans use breaks to establish long positions. We would recommend using options to reduce risk on the trade as the market will be volatile as we wrap up the trading year…Jim McCormick
Wheat: Funds are long 38,100 shown on Friday’s commitment of traders report. Keep in mind at one time the wheat traders were short so there is still money that can come off the table. We have no reason to suspect a break of the sideways trade at this point…Cordon Sroka
