No Black Sea headlines and markets are pricing in better weather

Corn, wheat and soybeans are adding to yesterday’s losses overnight with no news to feed the bulls. Wheat continues to lead the way back lower after it pulled the grains higher earlier in the week. Will the bears keep the pressure on as temperatures cool across the Midwest starting this weekend. Do they want to be short the market over the weekend with Black Sea and weather wild cards in the mix. Crops have endured stress this week, but the markets are more concerned about what is happening in the Black Sea and with soft demand for US production the bulls have lost some of their conviction to end the week. We also have month end on Monday so there may some traders front running that as well. For today, we will use 5.28 & 13.85 for support and 5.52 & 14.16 for resistance. A bunch of Soybean sales overnight totaling 909,460 MMT. NFC Grain Comments Options -7.28.23

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