Grains Looking Soggy (No Pun Intended)

Grains trading overnight has shown the entire grain complex to be weak. This may seem surprising, given the flooding in the Midwest and the danger of additional levees breaking, which would cause even more flooding than has occurred so far, and should logically drive prices higher. However, much of the higher pricing for corn and other grain product has been priced into the market. Thus, any improvement in weather conditions may cause prices to move lower, mostly from lack of new demand.