Traders shift focus to South America

With harvest in the U.S. surpassing the halfway mark in recent days, market participants in the CBOT corn and soybean futures markets are turning their attention to the Southern Hemisphere. 

Specifically, they are turning to South America, which accounts for more than 15% of the world's corn production and more than 55% of the world's soybean production.

Most of the day-to-day price action in the...