Grain markets sold off across the board overnight, resuming last week’s bearish tone on forecasts for decent rains and much cooler weather over the next two weeks. While crops still show stress in many areas, traders appear convinced yields won’t be low enough to shrink supplies swelled by record production in 2016. End-of-the-month position squaring could come into play today, but expect the market to spend much of this week debating what USDA could report in its key Aug. 10 estimates.

Check out Bryce's comments in a special Facebook live post below. Note this is from our new Facebook page at facebook.com/farmfutures. On that page we'll be posting new alerts and other updates regularly.

Bryce Knorr first joined Farm Futures Magazine in 1987. In addition to analyzing and writing about the commodity markets, he is a former futures introducing broker and is a registered Commodity Trading Advisor. He conducts Farm Futures exclusive surveys on acreage, production and management issues and is one of the analysts regularly contracted by business wire services before major USDA crop reports. Besides the Morning Call on www.FarmFutures.com he writes weekly reviews for corn, soybeans, and wheat that include selling price targets, charts and seasonal trends. He also produces regular outlook reports on basis, energy, fertilizer and financial markets and feature price forecasts for key crop inputs.