“There was a disappointing start for corn this morning with prices slightly weaker, despite crude oil prices more than $6 higher. The weakness is likely due to better rain chances in week 2 across most of the Midwest growing region and the likelihood of strong early crop conditions in this afternoon’s first crop progress report of the season. In addition, harvest in Brazil has begun, and Mato Grosso is just under 2% complete, up from 1% a year ago. Production for the state is expected to be 5% lower than a year ago.” ADM Investor Services said.