Better weather on tap

Corn and soybeans bounced back on Wednesday with some modest gains and extended those gains overnight. The wheat market brought the bullish news yesterday as news that India was planning to curb wheat exports but later in the day Reuters reported India would not stop exporting wheat. The wheat market kept most of their gains and added 20 more cents overnight. More rain across much of the corn belt to end the week but warmer, drier weather is on tap early next week and the planters should roll big time. We will see if the early week pullback was a front running of next week’s weather because the bullish sentiment remains as the balance sheets need all the help they can get as demand has not been rationed by the current prices. Weekly export sales were right in range for corn and soybeans and were well over a million metric tons each. Watch 7.87 and 16.38 for first support in the July contracts. NFC Grain Comments Options -5.5.22 (3)