A lower start is forecast this am, roughly 5 in wheat, 3-4 in corn and beans. There are reasons to sell the grains this am but the question is - will the sellers show up? If not, prices will soon rally again, as was the case yesterday right after the opening, when selling quickly dried up, replaced by increasingly aggressive buying, especially in beans. This caused the sharp rally in beans with the rest of the floor following suit. It's Tuesday and the market often reverses course on Tuesday, especially after a big move on Monday, the "turn-a-round Tuesday" syndrome. The $ is fairly strong this am, a bearish influence for all the grains. South American weather remains very favorable overall. There is no fresh bullish news of any consequence so far this am. Many traders think yesterday's gains were overdone, especially in beans, making these traders more inclined to trade from the short side today. All these reasons are likely to pressure prices initially but, again, will the sellers actually show up, especially after the probable lower start?

Corn harvest progress was 92%, as expected. Starting tomorrow, March will replace Jan as the top month in beans so trade March as of tomorrow if you want to be in the most active, liquid month in beans.

Argentina was dry the last 24 hours. Light, scattered rain is forecast today and Thursday. Up to 1" of welcome rain is forecast Friday or Saturday. Brazil will see light, scattered rain off and on the rest of the week in the south, where it isn't wanted as it will cause further planting delays. The north had up to 1" of rain over the last 24 hours and more is forecast today-tomorrow, which is welcome.

The midwest was generally dry the last 24 hours. More of the same is forecast for the west the rest of the week. The east will be dry the next 3 days but light snow is forecast in the south Fri-Sun. The southwest winter wheat belt will stay mostly dry the rest of the week.