The soy complex is bouncing a moderate amount today. This was due after the most recent break. The fundamentals remain long term bearish.
The south American weather is condusive to harvest. The next question will be how many more bean acres? The answer most likely will be alot. Any further rallies are opportunities to sell for both the hedger and speculator. The medium term outlook without a weather problem should be difficult to overcome.
The corn market is showing a bit of strength. The near term fundamentals have seen some business which is giving the market some hope. The long term prospect however look a bit more bleak. World numbers are on the rise. Especially from countries with a appetite to export. There remains no shortage of feed grains in general. The participant should look at rallies in the corn as a opportunity. remember the corn market has been range bound and will remain so for the foreseeable future.