Surprise: Corn, Soybeans Lock Limit DOWN!

What a turn of events! Both corn and soybeans locked limit down today. Wheat is also much lower, down by more than 40 cents, but hasn't hit the lock limit down price. This may be the beginning of a much-awaited correction in grains and commodities in general! If this reversal is short-lived, I will look to buy on the dip.

One the CME website prior to the open of the market, the CME indicated that a sell-off may have been hinted at in selling of palm oil futures overnight in Asia, as it appears that perhaps the grains have been somewhat overbought.

Corn

Soybeans