It was a quiet start to the trading week with overnight markets slightly lower on light trade. U.S. extended weather maps have several systems rolling through the western plains and Midwest; precipitation would be very welcome to ease drought conditions before Spring planting. Weekend rainfall was also better than expected in parched Argentina.
The weekly export inspections will be out later, this morning, as well as the NOPA soybean crush estimate for February.
CME is expanding position limits on many commodities effective today, so prices could become even more volatile looking ahead.
Corn: steady to down 2c
Beans: down 3-5c