Corn Rally Encounters Producer Selling; Ukraine Climate Forecast Trending Drier

CBOT corn futures rallied another 5-6 cents. The advance slowed at midday as farmers dumped old crop supplies at 12-month high prices. However, a pattern of soaking rain will stay intact into the opening days of June (likely longer). Potential farm trade government payments to soybean producers were rumored at $2/Bu with corn at $.04/Bu.…