"Today's forecast models continue the shift toward cooler and wetter for the Midwest corn and soybean crops," he said. Another Selling Day: Fund selling seen yesterday largely continued today, said Joel Karlin of Ocean State Research. "The market quickly shrugged off Russian drone strikes on Ukrainian ports and grain facilities as weather looks bearish," said Karlin. In last week's CFTC report, fund traders were seen as holding a sizable short position in grain futures. --The CFTC will release its weekly commitment of traders report at 3:30 p.m.

Source: Wall Street Journal August 03, 2023 08:00 UTC