No luck finding buyers overnight

The short-term forecast has not changed but some wetter forecasts for longer time frames have markets moving lower again overnight. The corn and soybean planting has been timely with corn 92% done and soybeans 83% both well above the 5-year average. ND caught up and is 72% planted for corn and 53% for soybeans. This is putting added pressure on the markets as they have been failing all month until a little weather premium tried to get priced in but that could not hold after the long weekend. Crude is back below 70.00 and has extended its losses overnight. We have an OPEC+ meeting this weekend and we will see if more production cuts are in the offing. We will watch 5.78 ¾ & 12.70 for support and 5.95 & 13.10 for resistance. New crop has 5.08 & 11.18 for support and 11.53 & 5.33 for resistance. NFC Grain Comments Options -5.31.23

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