Corn has many supportive factors

Corn and soybeans finished mixed on Friday. S. Brazil and Argentina weather remains dry this week but there are some rains forecasted for week 2. You have had some serious stress in these areas so we could see the USDA drop Argentina’s production numbers going forward and possibly trim Brazil’s corn crop but Brazil soybean crop should still be in good shape. Inflation via the CPI number hit its highest level since 1982 as energy prices and raw materials have jumped in the last year. Funds bought 17K corn contracts taking net long positions to 326K contracts. These factors look to be most beneficial corn and possibly wheat. Had some overnight pressure so we will see if we find some buyers down here this morning. NFC Grain Comments 12.13.21 (1)