Bouncing out of the lows

Corn and soybeans lost more ground on Tuesday down 10.5 and 14.75 cents respectively but overnight all the grains are higher pulled by wheat. India is considering curbing wheat exports as their production is dropping with extreme heat stressing the current wheat crop. They have been filling some of the void left by Ukraine and Russia so that will take away from available wheat stocks globally. KC and Chicago wheat jumped 30+ cents on the news and pulled corn with them as they put 8 cents on their price late in the night session. Weatherwise there is more rain headed to the Cornbelt late in the week before a drier and much warmer 6-10 forecast for the majority of the growing area. We will see if that open window will put pressure on the corn market as we move towards the weekend. For today, we look for support at 7.96 and 16.26 in the July contracts. China finishes up a 3 day holiday today and we will see if the pullback this week will incentivize some export purchases to finish the week. NFC Grain Comments Options -5.4.22 (1)

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