Grains still under pressure

FOR WEDNESDAY (9/7) Storms moved through Iowa and eastern Nebraska later on Tuesday, with local forecasts in Iowa calling for 2 to 3 inches of rain overnight. The 6- to 10-day outlook (Sept 11-15) favors normal to above-normal rains for the Midwest with below-normal temperatures for Iowa and normal to above-normal heat for Illinois and east. Progress reports were bearish and market now a bit overbought and at key pattern completions. As we move into Friday, we do expect more pressure to the downside and it probably will start Wednesday unless trade is afraid of too much rain in the Midwest, and that seems unlikely.