Can’t break these markets

Grains and oilseeds dropped back a little yesterday with corn off 7 cents and soybeans off a penny and a half. That being said overnight weakness was bought with corn up a cent and soybeans up 10 cents. Delayed planting is more supportive than other years as we deal with war and tight balance sheets going into planting. Weather looks to be wet the rest of the week for most of the corn belt and will remain cool next week but dry. The World Food Programme Emergency Coordinator believes Ukraine will run into storage issues and thinks there will be a 33% drop in spring plantings which is less optimistic than Ukrainian Ag Minister. For today watch the overnight lows of 7.93 & 16.88 in July contracts. NFC Grain Comments 4.20.22 (1)