It was the second week in a row you could say the grain market action was odd or weird. We began the shortened week (MLK Holiday was Monday) with pretty much all the markets getting pummeled. Corn managed to buck the trend and rally back a bit but it was a tough start to the week. Maybe there was more than fund spreading going on because there were a number of days when the grains were moving opposite directions in a big way.

Big moves the opposite direction in corn, beans and wheat struck me as being very unusual. When the funds were spreading typically you see one stronger and the other weaker but not by huge moves like we saw last week. So, while it was a tough start to the week Monday night in the overnight session and Tuesday morning, by the close Friday it turned out to be a very good week.

Gordy Kralovetz with Chiodo Commodities said corn closed in breakout territory and beans did breakout. The real question is can we follow through? The big factor that will determine that will be South America weather. Click on the link and listen to Gordy discuss the grain market action last week!

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