Grain Markets Commentary
Huge down day in corn and the soy complex on Thursday as a lot of factors combined
to hammer commodity prices across the board. already had negative momentum
from biofuel debacle and better weather then you have China trying to exert price
controls on imports along with the Fed getting more hawkish saying they will raise
interest rates twice by the end of 2022. Overnight rains were not as good for IA/MN
but were better than expected for WI. There are rumored sales to China yesterday
with the lower prices. We will have to wait and see if this bounce is for real or if
sellers press the issue this morning.
See attached report for more information on outlooks, technicals, and weather updates.
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