WEATHER

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.

Bryan Doherty with Total Farm Marketing says soybeans are seeing a slight bounce early in the session on trade news.

Rich Nelson of Allendale, Inc. says funds returned to sell in corn and soybeans on weak technicals, weather and crop ratings.

Mike Minor, Professional Ag Marketing, says corn and soybeans continue to see fund selling and broke below key moving averages Tuesday morning.

Eric Snodgrass, senior science fellow, Nutrien Ag Solutions says nighttime temperatures in areas of the Corn Belt could set new records which may have a negative effect on corn pollination. In fact, there’s evidence the record hot evenings the last 45 days have already taken a toll.

Corn, soybeans and wheat ended lower on Monday seeing some profit taking after higher weekly closes in the grain complex last week according to Darren Frye, Water Street Solutions. Weather was also a factor.

Brad Kooima with Kooima Kooima Varilek says the cattle futures opened lower on Monday on follow through selling after the bearish reversals scored on Friday. Corn and soybeans fall with rains over the weekend in the Corn Belt.

Jerry Gulke, president of the Gulke Group, says corn made a bullish weekly reversal and that technical action could signal a bottom in the market.

Don Roose, U.S. Commodities, says grain markets rallied Friday and were higher for the week. The markets saw technical buying and short covering as traders were adding weather premium in the corn market, and to some degree to soybeans. But is weather enough to bottom the market?

Naomi Blohm with Total Farm Marketing says corn took a break after a three-day rally running into chart resistance in the December contract around $4.25.