Informa drops yields

Corn and soybeans finished lower yesterday with bad export sales numbers, concerns about barges backed up/ stopped at 2 points on the Lower Mississippi and the USD back above 112.00. The forecast remains dry and while that is good for harvesting, we really need some rain to feed these waterways. IHS Markit, formerly Informa, came out with lower yield estimates of 171.2 for corn and 49.9 for soybeans. Those would be supportive numbers were the USDA to follow suite next Wednesday but if they did they would make some significant demand cuts as well. Expect some more volatility next week as we try to get a handle on this year’s balance sheet. For today, watch 6.72 & 13.49 ¼ for support and 6.92 & 13.92 for resistance. NFC Grain Comments Options -10.7.22 (2)