Grain traders were coming into what was poised to be a choppy week as rollover was in play for all three grains. Net long funds; roll over their positions into the upcoming months. As every commodity has a rollover week, make sure you pay attention to when front month contract expires and the monthly cycles for the particular commodity.

Corn futures started the week quiet until Wednesday, when Corn futures sold off heavily causing prices to hit their daily imposed limit offer. Corn futures settled the day limit down. When any grain settles limit up/down, the CME Group will impose an expandable limit for the commodity. Corn’s price limit was increased from 15 cents to 45 for the Thursday trading session. Markets opened weak once again trading down nearly 39 cents during the morning. With the market down significantly for the past 2 weeks, bargain buyers stepped in lifting prices higher into the positive side of the ledger for the day. Corn ended the week at their lowest levels since February.

Wheat futures continued to trade lower following their prior week’s trend as Wheat prices are trading at the lowest levels for 2011. Soybean futures were also hit with massive selling as prices briefly traded below their major price support 13.00 per bushel. After a choppy week in the Soybean pits, they ended the week at the lowest levels for the month of June. On tap for grain traders is the major USDA stock/inventory report scheduled to release Thursday, June 30th 9:30 ET. The numbers from this report are said to be price/trend moving for the rest of 2011. Corn will roll over into the December (Z) contract, Wheat rolls into September (U), and Soybeans front month is November (X).

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