Bears have the near-term technical advantage on a steep downtrend in December corn futures.
As the cold front pushes warm air out, scattered showers may arise. Hot weather continues for the southern half of the Plains.
Strong crop condition ratings have traders expecting above-trendline yields and record crops. As a result, supply-side fundamentals are about as bearish as they get.
Grains rallied after the crop progress report. For Chicago there were more cool temp days than warm for July. But the climate cycle model is not ruling out a return of summer. The U.S. economy moves forward and the stock market responded overnight. Brazil stock market may have made a significant bottom and Asian indices improved.