Markets popped on Friday with short covering on corn and wheat. Markets are giving back their gains today. It will be a slow time for the market for next couple months. The main prospect for rallies is weather concerns. If farmers put crops in the bin and hold tight, it could lift markets. As harvest winds to end, farmers will finalize yields and determine their costs of production. It's time to do some real number crunching and decide how much risk you want to bear.
Weather is expected to be warmer and drier in the SW Plains through the southeast. Watch the La Nina pattern, which is negative for Argentina. There has been better moisture in Europe, with some extending to the Black Sea winter wheat area.
Corn and soybeans have some of the lowest implied volatility on record. There are some opportunities that growers need to be penciling out.