Cooler temps next week = sellers in the market

Next week’s forecast shows some cooler temperatures for the corn belt next week and despite the continued lack of rain the grains markets gapped lower last night to start the week on its back foot. Corn is off 20 and soybeans 25 cents overnight. We personally think this is overdone and momentum got the better of the overnight trade and buyers should show up at these lower levels. We do expect a steady to higher conditions rating this afternoon as the heat should have been beneficial to the young crop at first but the drier areas might start to suffer this week. No positive news out of Ukraine that would cause last night’s sell off. Let’s watch the overnight lows of 763.75 & 1676 in July and 702.5 & 15.06 in new crop. NFC Grain Comments Options -6.21.22 (1)