Corn 2-3 lower
Beans 4-5 lower
The corn market is down this morning with the U.S. dollar reaching 2-year highs and no frost in the forecast through the 18th of September. The market will focus on frost for the next 5-6 weeks and the September 12th WASDE report will start to factor into the market as this week progresses. Additionally, the CFTC Commitment of Traders showed funds had increased their short position last week by 37,969, which has added to the downside pressure in the corn market.
The soybean market is trading lower this morning with no sign of a frost threat at this time and the poor export numbers and overall lack of demand. Attention will be toward how long the 2019 growing season drags out as the later planted beans need all the heat and time they can get. However, the momentum indicators for beans have turned higher but that has not brought substantial buyers to the market.