The market was in the red across the board at the open and mostly stayed that way. The exceptions being corn and lean hogs. They broke to the upside late morning and while lean hogs wobbled, both were in the green at the close.  Despite the downbeat of the past two sessions, corn and the soy complex are still up for this trading week. The same cannot be said about wheat, which unlike other commodities, doesn’t have the floor provided by good exports, Brazilian weather, or tight stocks. 

As usual, Brazil and China are the two market movers. Weather-watchers know some relief is coming to Brazil next week, but it is only short-term relief at this juncture. The long-range still looks like a challenge to Brazil’s more i...