Markets correcting pre-WASDE

Corn and soybeans are correcting before the USDA report next week. There had been some profit-taking after last week’s big run higher. Analysts are expecting higher production from the USDA next week. They are also looking for a bump in demand for corn but a reduction in demand for soybeans. Ethanol numbers will be bumped while soybean exports will be dropped and the soybeans crush will not make up for it. See table on PG 3. NFC Grain Comments 11.5.21