Will we open weaker than expected?

While the night session traded on both sides and ended near unchanged values in wheat and soybeans, there is a growing sense/recognition that a technical-based correction event is ready to unfold. The South American weather forecast is favorable/acceptable if you have faith in the forecast, which may also encourage some sellers this morning.

Producer selling could increase before the opening, as we have been on a good upside run and yesterday's action suggest the upside momentum may be waning. Producers may see an opportunity in making sales before the CBOT opens.

If the South American weather tensions ease during the next several days, the end-of-the-year influences could join forces with the poised technical indicators to produce a notable price correction in a short period of time.