CORN

• Corn futures are lower at midday, continuing on last week’s market weakness.
• If futures fail to rebound by today’s close, this would mark the seventh straight session of declines.
• Favorable weather persists in South America following a weekend of beneficial rainfall. In Brazil, second-crop corn planting in Mato Grosso reached 85% completion last week, slightly ahead of the five-year average.

SOYBEANS

• Soybean futures are lower at midday and on pace for their fourth consecutive day lower.
• Weekend rains in Argentina provided much-needed relief, adding pressure to the market as the new week begins.
• The IMEA reported soybean harvest for Mato Grosso was 82% complete as of late last week, this is five percentage points ahead of the five-year average.

WHEAT

• Wheat futures are slightly lower at midday after last week’s massive drop in prices.
• Threat of tariffs with both Mexico and Canada, set to begin on Tuesday, are continuing to weigh on futures to start the week.
• A mostly warm and dry pattern is expected to be in place over both the U.S. Plains as well as the Black Sea region over the coming week.

Author

Keegan Madigan