A little bounce as Pelosi leaves Taiwan

Corn and soybeans traded a little higher overnight after Speaker Pelosi successfully completed her trip to Taiwan. So far, China has announced new military drill around Taiwan the next few days and have halted some imports from Taiwan in retaliation. We need a bigger bounce as corn is already down 25.75 cents this week and soybeans are 74.75 cents lower. Weather remains the same with little rain for the WCB and heat across the Midwest. Stone X released their customer survey yield estimates with corn at 176 and soybeans at 51.3 bushels per acre. These are a little lower than current USDA estimates and we will see if they are ready to lower estimates next week in the August WASDE report. Ukraine has a goal of 3 ships per day on a test basis for the short term. For today we will be watching 5.88 and 13.65 for support and 6.10 and 14.20 for resistance to start. NFC Grain Comments Options -8.3.22 (1)