Likely big corn crop pushes market lower

Expectations of a big corn crop continue to weigh on the market. “Corn is trading slightly lower to start the day after December had its lowest close ever yesterday and made a new contract low again overnight,” Total Farm Marketing said. “Trade is still expecting a large crop as ratings have remained firm.”

Traders continue to watch the weather, with warmer temperatures expected this week across the Midwest. Tuesday is showing some scattered rains. “This morning there is an area of rain in eastern Montana, western North Dakota and northwestern South Dakota,” Joe Barker, with CHS Hedging, said. “And there are also some scattered showers in South Dakota, Nebraska, Minnesota and Indiana.”