Pulling back and looking for support

Corn and soybeans finished mixed yesterday with corn down 12 cents and soybeans up 17 cents. Soybeans popped around 5:30 in the morning when a 3500-lot market order in the March contract ran it 33 cents to 15.60 a bushel. It pulled back to unchanged before finishing higher. Corn was disappointed by a 5.6% build in ethanol stocks pushing towards levels in the spring of 2020 and ethanol prices have dropped 40% from the highs of last fall. This is causing corn to pull back and test some support levels. Export sales were strong for soybeans near 2 million metric tons and corn was inline with expectations. For today watch 6.15 in corn then 6.05 and in soybeans 15.26. NFC Grain Comments 2.3.22 (2)

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