Good morning!

Our markets are weaker this morning, but it was a wild night last night.  The range on Nov beans so far today is 40 cents, at one time last night sx was 19c higher, only to slip overnight as the forecasts turned a bit wetter.  Some of the weather models for the western Corn Belt are likely what caused the weakness (they are a touch wetter nearby) while the 11-15 day outlook actually looks drier.  This has some of the deferred bean spreads weakening as that crop may have a chance to be OK.  The funds are ridiculously long in soybeans, if the weather does turn, it will be hard to keep these prices.

The outside markets aren’t too much of an influence this morning as the dollar is higher while crude oil and the DOW are also slightly higher.  Call that a mixed input to slightly friendly.  One other factor weighing on our markets is a Russian wheat estimate showing a larger wheat crop than estimated. 

Currently

Corn is 4 to 6 cents lower

Soybeans are 8 to 10 cents lower

http://www.fccoop.com/markets/information.cfm

5-day QPF: