WEATHER

Craig Turner, grain and oilseed analyst with StoneX says its the last trading day of the month and corn, soybeans and wheat are all poised to have bearish monthly lower closes.

Alan Brugler, A&N Economics, says soybeans sank on demand concerns with large global supplies and China continuing to buy from South America. November soybeans fell below $10 and project even lower.

Kevin Duling, KD Investors, says corn is trying to bounce Wednesday off of new contract lows scored in old crop futures and wheat is also trying to recover after new lows on Tuesday.

Matt Bennett, AgMarket.Net, says it was an ugly day in the grain markets with old crop corn making new contract lows once again with spillover pressure from wheat and a higher dollar.

Garrett Toay, AgTraderTalk, says corn and soybeans continued to push back towards recent lows on weather as areas of the Corn Belt saw rain over the weekend and the heat is starting to ease.

Joe Kooima of Kooima Kooima Varilek says both live and feeder cattle futures gapped higher into all-time and contract highs again on Monday morning on the heels of the bullish USDA Cattle on Feed and Cattle Inventory Reports. Grains opened lower as weather is trumping export and trade news.

Scott Varilek with Kooima Kooima Varilek says both live and feeder cattle futures had a nice recovery and got within striking distance of the all-time highs set earlier in the week.

Darin Newsom, Senior market analyst for Barchart, Inc. says grains are working on a lower weekly close this week with the early pressure Friday. Funds have had no reason to buy grains he says.

Jim McCormick, AgMarket.Net, says corn saw a dead cat bounce with 3-cent gains on light short covering and solid export news.

Randy Martinson, Martinson Ag, says corn saw some early strength bouncing off support areas on the charts but is struggling to hold gains due to mostly favorable extended weather forecasts.