I’ll try and stick to grain related news but with the assassination of the Russian ambassador in Turkey and the other “terrorist” attacks in Berlin and Beijing that news seems to be dominating even grain market wires this morning.
Soybean futures found some consolidation trade after recent losses. A drier week ahead for the S.American crop appears to be the only fundamental catalyst for the move but at the end of the day the funds can only have so many down days before they take some profit. Volume is starting to come back a bit in futures trading so expect fundamental news to play a more important role in price determination during the next week or two as the punters enjoy their ski trips and cruises in the Caribbean.

Dalian corn futures were also a little lower, with China still pushing as much of their corn as they can into their domestic market. This has also seen import values for sorghum slip a little at Chinese ports.
The sideways soybean market had little impact on both ICE canola and Paris rapeseed both of which closed in the red. Winnipeg was almost unchanged after spending much of the session in the black.
With warmer weather returning to the US plain wheat also struggled. Better conditions have eased the concern of winter kill. Its unlikely to be thought about again by the markets until the spring and they walk into the field and wonder what happened.