Corn and soybeans had been working lower for a number of days, until Tuesday. Corn was up 16 cents and soybeans up 27. There still seems to be a bearish attitude because at midday, corn is down 3 or 4 cents and soybeans down about 18. There is still a record crop coming on in South America, and that seems to be all traders can talk about. Not helping either is the weekly ethanol production report, which showed production was down this week by 30,000 barrels per day to a three-month low of 948,000 barrels per day. Things look pretty negative right now. One farmer I was talking to this week said remember, it always looks negative at this time of year!

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