Lower start expected in slow news morning

A slightly lower start is expected this am, 1-2 lower wheat, corn and beans following similar overnight losses in a slow news morning. The $ is a little higher, which is a little negative for the grains. More talk that China is switching bean purchases from US to South American origin or outright cancelling US bean buys could weigh on beans today. There isn't any other fresh news of consequence so far today to drive prices strongly in either direction.

Mostly dry weather was seen in Brazil the last 24 hours except for light, scattered rain in parts of Parana and Rio Grande states. Mostly dry conditions are forecast today-Wednesday in the south. Scattered, light rain is predicted in Mato Grasso today through Sunday with dry weather moving in the first half of next week. Argentina was hot and dry again yesterday with temps up to 108 degrees in some parts of the grain belt. More of the same is forecast today. Scattered weekend rain, up to 1/2", and cooler temps are expected, favoring Cordoba and Buenos Aires provinces. More scattered rain and cooler temps are expected Tue-Thur next week. The forecast for the latter half of next week calls for cooler, wetter weather in Argentina with hotter, drier weather in Brazil, which would be welcome in both countries.