Grain Futures Fall Off the Cliff

Grain futures this morning have fallen precipitously, collapsing with the price of crude oil and with rumors of possible pending ethanol waivers, both in Europe and the United States. Corn has reached limit down within minutes, with both soybeans and wheat also plunging. The commercial hedgers will be bargain-hunting today! Bruce Knorr at farmfutures.com says on his morning commentary today that a pull-back in July is not uncommon in a bull market.