China is back in the US corn market

The corn and soybean markets finished mixed with corn a slight winner and soybeans off almost 18 cents. Both fended off big selling early session and finished well off their session lows and overnight they are moving higher. Corn export sales outperformed at 1.756 MMT vs 920K expected. China bought 319.5 K tons and 475.8K went to unknown so they could have been in for almost 800K total. Soybeans were a little under expectations but still a solid number at 928k tons. Continued activity like this will be somewhat of a game changer short term and we could see a run at $7.00 in the short term. For today, we will watch 6.88 & 15.43 for resistance and 6.72 & 15.10 for support. NFC Grain Comments Options -2.2.23 (2)

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