Can hot and dry forecast rally the soybeans?

Corn and soybeans both posted double-digit losses yesterday as funds sold into corn support at 4.81 and soybeans followed corn lower during the day session. The better-than-expected soybean condition ratings put pressure on soybeans despite the hot dry forecast. Now can that forecast provide support near 13.00 and move soybeans higher while possibly pulling corn with it? We will see how the week ends. The Black Sea situation remains active but has not had much effect on market prices. For today, we will use 4.75 & 13.05 for support and 4.91 & 13.35 as resistance. NFC Grain Comments Options -8.16.23

Sign up for text alerts from NFC! Enter your mobile number to join: