The reports are out at 11:00 and it will be interesting to see if the High Frequency Traders have adapted to the previous contrary data report where stocks were bullish and production bearish, or vice versa! Regardless, we'll be talking about the weather forecasts by 11:01! And the NWS is saying much warmer and wetter than normal for the Heartland in its last 6 to 10 which coulde be seen as bearish to prices as heat is still needed to bring home the late planted corn.
Potential trade deals with Brazil, China and others might influence price action but there have been so many times we were "this close" that the trade might take a wait and see approach.
Corn and bean spreads might remain on the defensive as the country gets more comfortable with the maturity of the Eastern crops. This might shake out some soft red wheat as no one is getting paid to store it and space could be needed for corn and beans.