Back to summer levels

Corn and soybeans moved higher again on Wednesday reaching levels not seen since this summer. Soybeans finished at 1335 and corn 602.5 in the March contracts. The hot dry weather in SA is the main driver but firm flat price in the US as crushers are bidding aggressively for supply in the first quarter. There is rain forecasted for the dry areas of SA in early January that could turn these markets over if it comes to fruition. Corn exports were in line but soybean exports were disappointing at 812,500 MMT when they were looking for above 1 million. NFC Grain Comments 12.23.21 (1)