The markets took a break from the rally today with beans down 2, corn down 20, and wheat down 31. We saw nice showers over the weekend and with producers having roughly 67-70% of the corn crop planted some are glad to have showers over their corn fields. Beans are roughly 40% planted leaving plenty to do. There were rumors that Brazil got a bit of rain as well and so with that being a pretty important topic last week a shower for them is pretty important and so that would be contributing to todays lower close. The planting progress report was out today and like I said its showing about 67% of the corn crop planted today versus 46% last week and 67% is hanging right in there with average and so the topic of late planting is pretty well squashed. It will be interesting to see what funds do tomorrow, if we will see the rally continue or if the market will continue lower.
