Big corn exports

Corn and soybeans were lower yesterday and finished the overnight session flat to slightly lower. USDA released the weekly export sales report and corn outperformed expectations with 1.219 MMT of corn being booked with Japan & Mexico taking half of that total. This is good news for the week, but we will need to see more follow-through buying for the USDA to keep from more cuts. Argy weather continues to improve and looks good going forward but still too early to say it is a pattern change just yet. We will be watching our support levels of 6.75, 15.10 & 468.4. All three are very close and settlements below these prices would be negative. NFC Grain Comments Options -1.20.23