A steady/lower start is expected this am, steady corn, 5 lower wheat and 5-8 down in beans. Following yesterday's big gains, we could see a "turn-a-round Tuesday" type trade today with prices reversing course from yesterday. The $ is sligthly lower this am but not enough currently to significantly influence the grains. Other commodity markets haven't changed much this am despite the slightly weaker $ with gold slightly lower while crude oil is slightly higher. There simply isn't much fresh news this am, at least not so far, so we could have a relatively quiet session. Of course, that doesn't mean the market won't move as light volume trading makes it easier to drive prices in either direction if funds, locals, commission houses or commercials become aggressive. Volume wasn't great yesterday but the market still made a sharp move higher.

Brazil had up to 1 1/2" of scattered rain in Parana state yesterday with mostly dry weather elsewhere. Rain will fall in Rio Grande state today, moving into Parana by Thursday before dry weather returns for the weekend. Mato Grasso state will see scattered rain today through Sunday. Argentina had up to 1.5" of scattered rain the last 24 hours. It will be generally dry the next several days although there will be some scattered, light rain at times. Overall, South American weather conditions remain very favorable.

The Midwest will be mostly dry today but light, scattered snow is forecast off and on tomorrow through the weekend, along with cold temps.