Since closing at 2.84 on 12 July, all CBOT corn contract months have slid 30 to 50c as fears of a hot, dry summer faded, and the realization made that the corn yield would be solid come harvest. The weakness in corn prices and the large carry-overs have conspired to drag soybean prices lower in the last month. While the August reports did cut projected yields, the cuts were too small to overshadow the size of the ending inventories.
The complete outlook is available at:
http://aede.osu.edu/people/roberts.628/extension/GrainsNewsletters.htm