Grains poised to open with a rebound attempt that could quickly fall flat. In the Headlines Volatility picked up on a second straight week down for grains. July corn futures fell 29 1/4 cents, July Chicago wheat dropped 30 1/2, and nearby soybeans lost 65 1/4. It was also a volatile week for livestock with August live cattle that finished higher by $2.60 while August feeders gained $5.47. June hogs made new lows for the move after dropping $1.55 for the week. The S&P 500 stock index snapped a nine-week winning streak after having its worst day of the year on Friday. Having just made new record highs earlier in the week, stocks took the hit after a strong jobs report supported hawkish views on interest rates. The focus on monetary policy continues this week with updates on inflation, as well as with the European Central Bank meeting likely producing a rate hike on Thursday. Israel carried out strikes in Lebanon on Sunday despite a fresh ceasefire agreement being in effect, which Israel said had been violated earlier by Hezbollah fighters. Negotiations with Iran were described as remaining at a standstill as skirmishes continued in the Persian Gulf. Comments on…
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