The corn and soybean markets this week took major downside price hits, with serious near-term technical damage inflicted. This sets the stage for more price pressure for at least the next couple weeks, heading into the pivotal early-July timeframe when price trends in the grains can be reversed, or existing trends can accelerate. The corn and bean markets’ bullish savior could be hot and dry weather forecasts for the U.S. Corn Belt. But right now, the weather forecasts are not deemed bullish. However, forecasts can change quickly in the summertime. Stay tuned!
