Corn posts a one month high. Soybeans struggle.

Argentina remains dry. Last week's minimal rains for Cordoba were -98% from normal. Buenos Aires last week saw 0.1 inch, -82% from normal. The same rain total for the smaller producer, Santa Fe, was -77% from normal. There is no sign yet of a pattern change coming in the next two weeks. As a reminder, weather at planting or during the vegetative growth stage is not a determinant of final yields. Weather at reproduction and just after are the huge factors. The third factor, a relatively light one, is planting date.

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