November WASDE today

Corn was off a little yesterday but soybeans took some more heat losing 17 cents. Soybeans have lost about 70 cents in a week as traders became concerned with a bigger carryout with higher production and lower exports but funds were buyers in the last report. Our thoughts are the market is a little oversold and without a big bearish surprise the soybean market should react favorably. Corn is fundamentally on solid ground and any move lower will be met with buyers. The market expects higher production but even higher demand increases but we will see what the USDA feels confident enough to changeNFC Grain Comments 11.9.21 (1)

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