John Heinberg, Total Farm Marketing, says corn made new contract lows again as funds continue to sell with no major weather threat to the crop and improved crop ratings. But how low will prices go?

Joe Kooima of Kooima Kooima Varilek says live and feeder cattle futures had a gap lower opening this morning on news from USDA of a phased re-opening of the border to Mexican cattle starting July 7.

Shawn Hackett, Hackett Financial Advisors, says the June 30 reports have traditionally produced some fireworks, especially as they coincide with the end of the month and quarter which also triggers some portfolio re-balancing by the funds, but that didn’t happen Monday.

Matt Bennett, AgMarket.Net says, the corn market is breathing a sigh of relief as some whisper numbers on acreage were substantially larger than the March intentions.

Trump’s approach involves threatening written notifications to trading partners outlining new tariff rates, a tactic aimed at forcing “deals” and punishing those not negotiating in good faith.

Randy Martinson, Martinson Ag, chalks the recovery up to short covering heading into the weekend and position squaring ahead of Monday’s USDA reports.

Jerry Gulke, president of the Gulke Group, says some in the market attributed the recovery to short covering but he thinks a some significant trade developments also played a role, as well as the upcoming USDA reports.

Historically, the corn market has been well over $5 with ending stocks this tight, says Darren Frye with Water Street Advisory, Inc. Will higher-than-expected corn inventory show up in USDA’s Quarterly Stocks Report?

Scott Varilek, Kooima Kooima Varilek, says cattle futures are holding together despite lower cash trade, while grains are finally seeing a bounce in reaction to a China deal on rare earths.

Kevin Duling, KD Investors, says the funds continue to sell in the grain markets, and both old and new crop corn hit new contract lows Thursday before bouncing off those levels. So, how much more downside risk is there?