Grain Markets Commentary
Heat and Inflation Act or just heat?
Corn and soybeans keep rolling. We have seen a lot of weather premium get built back into the market as the August weather forecast looks threatening. Soybeans have a very tight balance sheet and if we lose a bushel or 2 of production it could send prices back to the highs. The Inflation Act has a bunch of incentives for biofuels for next year and beyond so this could put extra fuel on the fire for soybeans with the already tight balance sheet mentioned earlier. We also got our first flash sale in while with 132k tons of soybeans to unknown for 22/23. For today, it looks like month end will have a tough time putting pressure on the markets with the current weather forecast. NFC Grain Comments Options -7.29.22 (2)