Most of this week’s early rally in the grain and oilseed markets was justified by the challenging weather in Brazil. The weather has not only impacted the soybean first corn crops currently being planted, but also the planting prospects of the safrinha – or double-crop – corn crop. Since mid-week, however, Brazil’s weather forecasts have trended more favorably with wetter weather for most of the central and northern states coming next week. That sent the CBOT markets lower to end the week with funds feeling more comfortable expanding short positions in corn and cutting back on soybean longs. Too, weaker technical conditions in soymeal and wheat contributed to the day’s declines in those markets. There was littl...

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