Grain traders headed into the weekend trying to decipher how much benefit crops would get from
forecast rains. The system appeared as if it would be a “major” event earlier last week, but ahead of the weekend, many private forecasters
had removed much of the rain potential for the driest areas of the eastern and southern Corn Belt. All investors are holding their
breath waiting on results from the June 17 Greek elections. While neither party has promised an exit from the euro-zone if they are victorious,
the opposition leftist party opposes the austerity measures Greece must adhere to in order to get bailout funding and avoid
defaulting on sovereign debt. But if Greece leaves the euro-zone, central bankers around the world appear ready to provide liquidity for
banks and economic stimulus. With the focus on weather and Greece — two very unstable and unpredictable factors — price action could be very volatile this week. Barring a macro-economic meltdown, livestock traders are trying to focus more on cash fundamentals.