Bulls take control

Corn and soybeans finished double digits higher today after some pretty good overnight weakness as we opened a day later after the long weekend. The wetter forecast in Argentina was the blame for the softer prices coming into the day session but after some early weakness both corn and soybeans took out last week’s highs. They also broke through trendlines at 676.5 & 1534.25 respectively. Look for some bullish momentum to start the evening session tonight unless we move back below those levels quickly. The tighter than expected supply numbers last week gave the bulls more confidence that support has strengthened until better weather verifies in Argentina and S. Brazil. NFC Grain Afternoon Comments. (14)