MONTH END RESULTS.............. Well, as we said on last Friday's report, this week we will see rallies off weather and production concerns but funds will take profits off these rallies as month-end rolls in and funds can pay bonuses on profits taken before month-end. They took profits Monday. Rallied Tuesday then took those profits on Wednesday's opening before rallying late day to take profits again on Thursday and Friday all off the tops generated by bullish crop progress reports and suspect in weather this week. A new month begins Monday. Next week we start to hear talk about the August 12 USDA monthly crop report. I suspect no one will want to be short into it and speculators and funds will want to be long into it on several friendly to bullish issues. The first issue is that July saw quality conditions decline 8% for corn and 4% for beans. The trade thinks conditions were worse but common thinking will be that the government may have to lower its previous projected yield estimates leading to lower estimates on production and ending stocks. The July cattle on feed report showed 4% more cattle were taken off the range feed and placed on feed yards in June to spend July fattening up on a corn and soy meal feed ration. This looks to have thinking that corn and soybean meal for feed use will show up higher. Record ethanol consumption here and exports of US ethanol to Brazil's soaring looks to see another bump of on ethanol consumption of corn. Next we have the question as to acres planted this past planting season. After the June 30 planted acreage report, the USDA said they would re- survey some key producing states as heavy rains and flooding led to record late planting dates and uncertainty of lost acres due to flooding and actual acres planted left questionable. Common trade thinking is less corn and beans were planted and spring wheat acres were lost and not read planted due to flooding. So next weeks low needs to be bought and rode higher into the report. The wildcard is weather. Corn is three quarters through it's yield development time with beans now entering its key pod setting stage through to August 20. Traders already suspect that no matter what the weather, corn damage is done and yields are to come in lower than previous USDA estimates. WXRISK.COM is talking about a weather formation called a Greenland block now developing. If the block continues into mid-August, we will see generally seasonal temperatures and increase rainfall into the Midwest grain belt. This will stop Corn's decline, but make bean yields soar higher. Others continue to see generally warmer and drier than normal conditions. This leaves us essentially trading the next days forecast as it relates to immediate impact on yields. Expect price declines to be limited as pre-report buying interest for the August 11 report will pull this off the lows. If weekend rains give us a lower opening Monday use it put on some options for the August report. Sell a September $.20 out of the money put on corn and buying the $.20 out of the money calls and look for higher price trade into the crop report. The put and call should be $1000 each at $.20 premium. The start of the weeks pricing and futures should be lower on better rain forecasted over the weekend but should the situation over the debt ceiling not be settled we could see a sharp drop or a resolution reached over the weekend could have funds go from being sellers starting the week to actually be buyers as well, quickly.