Funds are building a long position in soybeans

Corn and wheat are softer while soybeans continue to move higher.

Some of the rally is due to Brazilian weather but also 2 weeks of better weekly export sales with China in the mix.

N Brazil did get some rain over the weekend to narrow the dryness but has hot and dry conditions forecasted for the next 10 days.

USD is trading below 105.00 and is trading lower than it did all of October.

Looking to see if the soybean rally can sustain or if we get a pullback from these levels.

Support and resistance

4.72 & 13.34 for support

4.84 & 13.66 for resistance NFC Grain Comments Options -11.6.23

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