Chicago closing comments

Guess what? Nothing really very new. The Chicago market briefly touched limit down (-70c) on soybeans, before rebounding a bit to close down 43c nearby, with wheat down 10-18c and corn up around 5-6c.

Despite a volatile session there wasn't an awful lot of fresh news in the market.

Crude oil was lower, dragging soy down with it. Wet weather & planting concerns added to soybeans woes & ultimately supported corn. Wheat was in no mans land but the prospect of much larger crops on the horizon in the northern hemisphere was again enough to send futures lower.

None of that is particularly fresh yet it was still sufficient to cause some pretty major moves. I wonder what will happen when we do get some fresh market news!