Not much news

Overnight- Corn and wheat is lower with soybeans slightly higher.

Brazil does have some rains this weekend and early next week but then turns back dry and could stay dry as the monsoonal flow looks to end early this week.

Domestically, we will see snow in the Northern Plains and some rain for the western Midwest will be welcome.

Brazilian Real closed at its highest level in 4 months and Brazil’s Central Bank is expected to cut rates by 0.5% which will weaken the Real vs the Dollar.

We did see a flash sale of 120K tons of soybeans to unknown buyers.

Bottomline

We will see if there is any more short covering because that is what we will need to see to build in more risk premium before next week’s reports. NFC Grain Comments Options -new (24)

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