USDA Report Bearish Grain

From the floor of the CME group Chris Robinson, Contributor for Traders Exclusive discusses the USDA Report and very bearish grain. The July/Nov spread was out at $2.70, collapsed down to $1.85 and is now at $2.55. Soybeans were down $.70 yesterday and another $.30 today, they are selling at $11.34. There are more soybeans planted than originally anticipated. Corn is at a $5 level and not as bearish as the other grains. Wheat is at $7. Overall grains are bearish, but this could turn around with a changed weather forecast.