The grain and cotton futures bulls got a good taste of humble pie late last week after starting out the week snorting with hubris. July corn (ZCN26) futures on Friday fell 11 3/4 cents to $4.55 ¾, hit a three-week low, and for the week were down 16 1/2 cents. July soybean (ZSN26) futures Friday fell 15 1/2 cents to $11.77, hit a three-week low, and for the week were down 31 cents. July soft red winter (SRW) wheat (ZWN26) futures fell 22 1/4 cents to $6.35 3/4 but for the week were up 16 3/4 cents. July hard red winter (HRW) wheat (KEN26) futures lost 17 1/4 cents to $6.88 but for the week were up 12 1/4 cents. July cotton (CTN26) futures on Friday fell 333 points to 80.61 cents, hit a two-week low, and for the week were down 412 points. However, good price gains in all the above markets early Monday put the bulls back on more solid footing.
