Grain Markets Commentary
Soy complex remains hot!
Soybeans and soybean meal futures came out of the gate hot yesterday with March meal posting new contract highs and the soybean contracts had no choice but to follow along. The strength continues to surprise as Brazilian prices have started to fall as early soybeans start to hit the ports. The reality has been the soybean balance sheet is in better shape on the demand side than corn and will continue to be that way into planting. How that affects the acre battle going forward. Corn exports remain disappointing as the market looks to more cuts going forward. Right now, the beans will run the show. Today will watch 15.37 & 6.87 for resistance and 6.75 & 15.22 for support. NFC Grain Comments Options -1.31.23 (1)