THE OPEN July beans:  35 lower July meal:  2.30 lower July soyoil:  359 pts lower July corn:  19 lower July wheat:  8 3/4 lower Prices opened under pressure and into short-covering initially, but as the morning wore on funds were noted as sellers of strength, which finally led to a complete wash-out as lines of technical support were broken and that triggered further selling.  Rains in Iowa and the potential of heavy rains courtesy of the GFS model accelerated the downside as a cold front moves out of Canada, triggering storms.   Would also note plenty of unwinding of spread trade across the board, as this seemed to turn into a macro day of liquidation, including unwinding of previous buy energ...

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