Weather continues to drive the CBOT price action with more rains forecast for the western Corn Belt through the end of July and into August pressuring summer row crops. Corn and soybeans settled lower for the day, and both are testing technical support on the charts at a time when funds are typically net sellers and liquidate their longs. In contrast, wheat futures started the day sharply higher but fell back as the U.S. dollar regained its footing. There are signs that the selloff in wheat is subsiding and that traders may start to add back length and risk to their positions.  The latest weather forecasts from the GFS model include widespread showers for all but the southern Plains in the coming five days. Notably, parts of the weste...

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