Corn Falls Below Chart Support; US Forecast Wetter 8-14 Day Period
CBOT corn futures fell sharply. Fundamentally, heavy rains have fallen across the drier areas of E KS and SW IA today. The EU and GFS models are in broad agreement that normal/above normal rainfall returns to the Eastern Corn Belt beyond August 7th. Domestic demand is slowing as ethanol margins are being squeezed and as…