Rain and winds and reports, oh my!

The Central Midwest finally got some rain to finish the month. High winds laid some corn over as the storm front moved across Iowa, Missouri & Illinois. This is the beginning of the perceived trend change in weather that will stop the expansion of drought conditions. The market front ran this forecast and so far they have been correct and will need follow up weather for the crop to reverse conditions. The pre-report estimates are not looking for a big change in stocks or acres but this can be a volatile report and a bigger draw on stocks could be the catalyst to bump prices higher today. We will look to be nimble and take advantage of any big bump in the markets to do some hedging. For today, we will use 5.22 & 12.55 for support and 5.53 & 13.10 as resistance. NFC Grain Comments Options -6.30.23 (1)