Last trading day of May

The agriculture sector was negative across the board yesterday as month end meant risk off. Corn was off 24 cents and soybeans 49 cents. Corn planting jumped to 86% done and while soybeans are 66% complete. North Dakota is only 56% complete and wet so the corn planting will be pretty much done there. Estimates have 1 million acres of ND corn going to prevent plant. Soybeans and wheat should grab some acres there but not sure if it will make much difference. The Russia/ Ukraine rhetoric is also applying pressure on the grains as funds are wary that the worst is already priced into the corn and wheat market. Today, we will see if new month new money buying shows up as corn and soybeans had modest gains overnight. If we test the overnight lows this morning, look out below. NFC Grain Comments Options -6.1.22 (1)

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