Last week was tough but funds are adding longs

Corn and soybeans suffered losses last week losing 15 cents and 44 cents respectively. Funds don’t seem concerned as they added longs last week buying a bunch of corn. They added 79K longs to move over 300K longs net and added 18.7K longs to soybeans. They had been trimming soybeans but have not rolled short even with some bearish fundamentals at work. Looking for more pressure out of the gate today but should level out before the day is done. Corn is getting to favorable levels for ownership.NFC Grain Comments 11.8.21 (5)

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