In our report to clients on Monday (26 Jul), we wrote:

We’ve seen dramatic spikes in both beans & wheat – this week it may be time for corn to pop.  The story in the corn/soy belt this week will be rain (particularly in the WCB).  While overnight markets are lower, we expect to see support to the upside at the start of the week on the forecast for additional rains, which will add to the uncertainty following significant flooding which affected parts of IA/IL.