- Monday dawned and closed in a post-WASDE lethargy with volumes low in Paris and London and little in the way of fresh input to spark things into activity.
- Chicago saw both soybeans and corn continue Friday’s positive tone, corn being triggered by short covering and soybeans by profit taking. The slight rally has triggered some farmer selling and it appears that consumers have been dipping into the market “just in case” we have made seasonal lows.
- It remains our view that the current rise in prices will create a selling opportunity and over time we will see lower levels.