Trading volume was noticeable lighter in the grain and soy markets ahead of Christmas. Another week of thin holiday trade is likely to close out 2016. Soybean futures faced corrective selling in the form of profit-taking and a lightening of fund long positions as Argentina received timely rains. Favorable South American weather also weighed on the corn market. Wheat followed the soybean and corn markets lower. While funds hold net short positions in the corn and wheat markets, there's no incentive for them to actively trim their short exposure given bearish supply-side fundamentals.