G:
Tonights action is just more extended WASDE report action from small perma bull farmers. If WASDE were truly bullish near term, we would of been limitup on fri in the first 10 min (not 10 cents and struggling for 20). In my view, any strength should be used as a selling opportunity. South American production will be large and demand for US corn for a long while is to the point where it cannot get any worse. Demand will not pick up until there is a known for this years crop. It is all about weather now. Weather in Argentina and Brazil has good growing conditions. Several days of rain is expected in S central Brazil and outer areas of the region. The WASDE report on Fri has only long term bullish implications if the crop of this year fails due to another drought. It is to soon for the market to concern with current dry pattern in US. The Funds will trade what in front of them. That long term down trend line should hold....unless there is some flash heat dome over S.A.