Grain Markets Commentary
June is here when will we see our first weather scare?
Corn and wheat futures took another big hit yesterday with corn off 22 cents and wheat was off 46 cents. Headline pressure discussing various efforts to get exports out of Ukraine came down on the corn and wheat markets after the month end dump on Tuesday. Overnight corn, soybean and wheat rebounded off yesterday’s low. We should see rains across most of the Corn belt the next 7 days which also put pressure on the market so moisture should not be a problem yet but temps are lower than normal. Most of the bearish news should be priced in for the short term but need to see July corn back to the mid 770’s and December back over 7.11 to be more confident on the bullish side. NFC Grain Comments Options -6.2.22 (1)