The theme for this week’s grain markets seems to be that of favorable weather, big crops, and increasingly bearish sentiment. That was certainly the case Tuesday, as corn, soybeans, soymeal, and wheat all sold off amid fund and commercial selling. Several markets/contracts hit new contract lows, which points to the current and increasing weakness in the markets. The primary catalyst for the weakness is the favorable U.S. weather forecast, which points to record-breaking yield potential for corn and soybeans this year. There were reports overnight of a derecho wind event in parts of the Midwest that could impact yields for some farms, but widespread impacts are not expected. Grain markets are also adjusting to the recent rally in the U...

TAGS – Feed Grains, Soy & Oilseeds, Wheat, Livestock, North America