We talked last week about the rainfall pattern changing in the eastern corn and soy belts, and we certainly did see some of this materialize this past week. While the monthly rainfall profile has not been disruptive, the NOAA map above shows that the past week has produced significant rainfall totals, just in time for planting preparations. After USDA announced planting intentions (soy/wheat up, corn/cotton down), the market pulled back briefly. But as the wet pattern developed over the last five to six days, volatility picked up again and potential planting delays could now push the grains complex higher into next week.

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