Rain in the Plains Make Grain, So Bears Are in Control of Corn, Soybean, and Wheat Prices Now

Rain in the Plains has put bears in control of corn, soybeans, and wheat prices. July corn futures rose 1 cent to $4.12 3/4, though the week was down about 4.75 cents. July soybeans fell 1 1/2 cents to $11.13 1/2, and were down 8 cents for the week. July soft red winter fell 2 1/4 cents to $5.84 1/2, with weekly gains of 4 1/2 cents, while July hard red winter wheat slipped 1/4 cent to $6.34 1/2, though weekly gains reached 13 3/4 cents. Traders monitor USDA crop progress updates and news that Maersk and others may use ethanol as a maritime fuel.