Grain Markets Commentary
Big drop in crop conditions.
The grain markets were higher yesterday as questions about the exports getting out of Ukraine after weekend missile strikes in Odessa and a more threatening August forecast. Then yesterday afternoon crop conditions dropped more than expected and pumped markets overnight and are trading above some technical indicators that could bring some bullish momentum to the markets. Watching a close over 6.05 in December corn and 13.55 in November soybeans to turn sentiment. EU production continues to struggle with news their corn crop is cut by 8%. Look for price support today but if this rally gets turned over and we give back these gains it will not be a good sign for the short run. NFC Grain Comments Options -7.26.22 (2)