Corn closed 2-3 cents lower Friday, and for the week July was down about 7 cents and new crop December lost 8 cents. There was just a lot of negative news last week, and as one trader said, even when there is positive news it is still bearish. The weather was good for corn planting last week, at least in the Western corn belt. Some traders think the USDA Crop Progress report Monday afternoon will show 50 percent to 60 percent of the corn crop has been planted.

Soybeans lost 10-12 cents Friday, and for the week July was down 6 cents and new crop November was down almost 12 cents. The attitude is pretty bearish in soybeans, too. Because corn planting was rapid last week, soybean traders are certain soon we will make good progress in soybeans, too. I think traders were searching for reasons that soybeans were down late last week. Gordy with Chido Commodities has said many times when the funds are short and piling on like they are now, traders don't want to say "markets were down because of fund selling. So, they need to come up with a reason, any reason.

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