Rain for Argy next week.

The new year has not been cheerful so far with respect to corn and soybean prices. So far corn has lost 25 cents and soybean 44 cents in the March contracts up to this morning. Argy got some rain over the weekend and looks to get more late next week as does Paraguay and S Brazil has something to do with it. We have the January WASDE a week from today and we expect steady to higher production numbers and likely usage cuts to corn and possibly soybeans, leaving us with bigger carryouts going forward. We could be seeing a front running scenario that results in some purchasing opportunities in the short term. For today we will be watching 6.48 & 14.77 for 1st support and 6.62 & 14.91 for 1st resistance. NFC Grain Comments Options -1.5.23 (1)