Afternoon Grains

NFC Afternoon Grains Jan 6th: The first week of trading beat up the corn and soybean contracts. Some weekend rain in Argentina and export worries with China Covid cases skyrocketing flipped the bullish momentum that prevailed during the last half of December. For the week, March corn lost 24.5 cents and March beans dropped 31.5 cents and while both traded better on Friday as next week’s Argy forecast pulled back on rains later in the week, we will need to see continued buying early next week or we will turn back and challenge this week’s lows of 648.5 in March corn and 14.65 in March beans. We have January WASDE next Thursday and will dig into those estimates Monday. NFC Grain Afternoon Comments. (3)