Corn closed higher on fund buying. Some user buying was also noted yesterday Prices remain near the bottom end of the recent trading range and the price action yesterday did not really change the chart weakness.
Soybeans have been caught inside a tight trading range over the last few weeks and prices look like there is a strong possibility that the market will eventually test the low end of their trading range.
A hot, dry forecast in southern Argentina the next 7-10 days is catching traders' interest, as it is too early in the season to assume that South America's soybean crop will go unscathed before harvest.
US markets closed a little higher on forecasts continue for some very cold temperatures to move into the Great Plains this week there were ideas of spotty damage to Wheat in the Great Plains from the current cold air.
Corn closed slightly higher in narrow range trading. Some speculative buying was seen in Corn as funds and other large speculators continue to hold record or near record short positions in this market.