Solid export sales for corn and soybeans

Corn and soybeans were higher yesterday after being sold off the first two sessions of the week. We are still looking for hot dry weather for the next 2 weeks but there is now a small chance of rain in the 6-10 day for the upper Midwest. We had decent export sales last week with corn totalling 940K tons and soybeans 1.51 MMT. Our lower prices have become competitive, and we are seeing that in these sales. These sales are not game changers for the balance sheet, but they are good to see and perhaps hold prices in for the near term. Pro Farmer crop tour starts next week which will give use some good boots on the ground intel. Will we see the variability across the belt that many think could be pulling yields lower. This could be the bullish sentiment we need to get a little bounce in prices. For today, we will use 4.75 & 13.05 for support and 4.91 & 13.38 as resistance. NFC Grain Comments Options -8.17.23