Quiet weekend in the Middle East

Overnight- Corn and wheat futures traded higher while soybeans traded lower.

The news out of Iran and Israel was quiet over the weekend so little volatility in the Sunday night trade.

US weather forecasts remain conducive for planting after some good rains last week. There are some rains forecasted for late week that could slow planters down. ECB will have lower temperatures this week.

Brazil’s weather is warmer and drier stress should be limited for the short term.

Funds were big sellers in the last report adding to the large net short. Soyoil was the biggest with managed money selling 49K contracts.

Bottomline

We have had a little back and forth due to the Middle East conflicts and we must watch for any opportunities to sell due to any escalation over there. Again, keep an eye on your local basis. NFC Grain Comments Options -new (42)