It was the second week in a row corn saw heavy selling, especially fund selling. For the week new crop December corn lost 13-4/4 cents a bushel. The crop is pretty well all planted and the weather forecast is nonthreatening. Plus the crop condition ratings are almost the highest on record for this time of year. On the bright side lower prices should continue to encourage export demand. Commitments of U.S. corn for export are now 3 percent above last year at this time and at 98 percent of the USDA projection for the entire marketing year. Remember the marketing year ends on August 31, 2018!

Soybeans were under pressure too for the second week in a row. For many months beans would see a selloff and they bounced back. However, with the bean crop pretty well all planted, trade war talk and very good crop ratings beans may not bounce back as quickly as in the past. We may need a hot and dry forecast and talk of a high pressure ridge to get soybean traders interested in buying beans. Demand for soybeans continues to be supportive under the market. Export commitments for soybeans are at 99 percent of the USDA projection for the entire marketing year.