Wake Up Call

We are seeing grains all slightly off from yesterday's bounce. This does look like a small correction, but overall it does look like grains are finding better support after Friday's production report. It is likely the most in trade are now turning focus forward towards acreage. And while we are looking for some corn acres to move over to beans, the most important part is that across the three major markets, corn, beans and wheat, most are looking for at least a slight acreage decline overall. So this could bring in some general support between now and the acreage report at the end of the month. We aren't seeing too much in the way of fund related support. There were no clear signs in either volume or open interest yesterday that the corn support was fund-related.