Better crop ratings put pressure on overnight

Corn and soybeans opened weaker last night with better-than-expected crop ratings yesterday but neither market has fallen out of bed. The dry weather for the next two weeks has held prices in check. The soybean balance sheet remains tight even though good yields remain likely this year. Corn is looking at risk to the Chinese corn crop and wondering if we might see a little better than expected export action from them down the line. Crop tours are starting across the belt the next 2 weeks so we will get some boots on the ground information soon. For today, we will use 4.81 & 13.05 for support and 4.98 and 13.38 for resistance. NFC Grain Comments Options -8.14.23