Countdown to January WASDE

Corn and soybeans had gained ground last week as traders tried to get ahead of the South American crop stress. Multiple entities began cutting Brazilian crop production while Argy crop rating deteriorated too. High temperatures and little rain will dominate the forecast this week for those stressed areas before some forecasted relief in the 8 to 10 day forecast. We have the January WASDE on Wednesday so we may see some profit taking for any longs that are uneasy about rising carryouts domestically. We will have more on this tomorrow and Wednesday morning. We have a lower trade overnight and are watching 13.90 in March soybeans and 5.98 in March corn for first support. NFC Grain Comments 1.10.22