Overnight losses were gradually reduced during the day session. Today’s futures market price action suggests that traders are still concerned that hot, dry conditions will return in late June and/or early July. General Comments Overnight trading in grain and soy futures found prices drifting a bit lower following yesterday’s weakness. Trading volume was about average. Rains were falling in a number of areas in the central U.S., and traders of course keep a close eye on weather radar maps these days. Open interest in corn and wheat futures each dropped by nearly 5,000 contracts, while soybean open interest grew by about 2,900 contracts. It appears that funds are slowly reducing their short positions in the grains but adding to their short...