WHEAT – Down 10 to 15 cents per bushel
Pressure from a firm dollar and profit-taking after rising to a 5-1/2 month high and nearly a 2-1/2 year high on big exports of U.S. wheat.
* Dry weather continues to be a problem in the U.S. Plains hard red winter wheat region and no relief is in sight from the dryness. In the U.S. Midwest soft red winter wheat region cold
weather may have harmed some of the crop last week but moderate temperatures are providing relief this week. * Russian 2011 grain crop may reach 87 million tonnes, up from the drought-reduced 60.9 million in 2010 and compared with 97 million in 2009 and 108 million in 2008.
CORN – Down 8 to 10 cents per bushel.
A firm dollar, lower crude oil, improved crop weather in Argentina and profit-taking near 2-1/2 year highs lend pressure.
* Increased rainfall is expected through the balance of this week in the dry areas of Argentina and overall satisfactory crop weather continues in Brazil.
SOYBEANS – Down 10 to 15 cents per bushel.
Improved crop weather in Argentina, a firm dollar, lower crude oil and profit-taking near 2-1/2 year highs combine to weigh on soybean futures. Announcement of big soy sales to China may firm up nearby months but traders are questioning whether the sale really was for old-crop U.S. soy.
* Soybean prospects have been improved by increased rainfall that is expected through the balance of this week in the dry areas of Argentina and overall satisfactory crop weather continues in Brazil.