China heatwave & low yields out of first day of crop tour

Prices are moving higher as more foreign weather cuts production across the globe. China is dealing with a heatwave that is trimming their crop production with most of the issues in major rice growing areas but in the current situation a rising tide is lifting all boats. This paired with a disappointing first day of the Pro Farmer crop tour with SD & OH showing lower than expected yields both below the 3-year average in corn for the tour and SD was below the soybean average too. Ohio soybeans are better than last year and the 3-year tour average. Look for firm pricing to start the day watching 6.55 & 14.58 for 1st resistance. NFC Grain Comments Options -8.23.22 (1)