Market trends for all three major grains can be summed up the same way.
According to Marty Hibbs of the Grain Farmers of Ontario, indicators are negative and the main trend is down for corn, soybeans and wheat.
Hibbs notes soybeans have dipped below the $9.50 support level.
He adds a more accurate yield estimate will come from today's USDA report, which could relieve some of the downward pressure if projections somewhat decrease.
The analyst says wheat trade was quiet last week, settling around the 4 dollar mark.
However, support for December futures has moved down to recent lows at $3.85.
Hibbs feels the USDA report could lead to a slight uptick on corn prices.
He points out the eight-year low 3 dollar September contract is soon ending, which could lead to some upside in the near future.
