Crop conditions drop 2%

The grain markets took the negative momentum from Sunday night and kept moving lower. Corn lost 24 cents in July and 29 cents in Dec while soybeans dropped 21 cents in July and 28 cents in November. The selling did not stop there last night corn was off 5 cents in December and beans down another 20 cents. A 2% drop in the crop rating could not slow down the sellers last night. Yesterday’s lows held overnight but the soybeans put in a new low for the move and new crop is leading the way lower trading below 15.00. It is surprising as many think the acres will be moving away from soybeans to corn on next week’s acreage report. Watching 760 & 1655 in July and 690 & 1475 in new crop. NFC Grain Comments Options -6.22.22 (1)