Improving weather forecasts in the Midwest have cut into corn prices, according to ADM Ag Market View. Talk of better South American crops and prices below U.S. figures may also be triggering new selling. Corn plantings are 3 percent complete, compared to a more normal 5 percent.
Hog losses in China translate into less worldwide soybean demand, says Jack Scoville with the Price Futures Group. Scoville says it will take many years to rebuild the Chinese herd, and that demand for beans and soybean meal will suffer until the rebuild begins.