Grains Showing Soft Prices

Grain prices continue to show softness across the board, although corn and soybeans were up modestly overnight. Corn and soybeans both opened higher during today's day session, but are showing signs of weakening, even in the opening minutes. This may be suggestive that the recent grain correction will continue, as the market anticipates an acceleration in planting in the grain belt. Personally, I think that market prices are somewhat too optimistic and therefore overly bearish, but I will continue to give the market what it wants, regardless of my own opinion. Weather has been somewhat uncooperative, forcing planting delays, especially of corn. If May arrives, and planting hasn't begun to catch up, bullish prices may rebound. The longer the delays, the more likely that prices will rebound higher.