Soybeans bounce back in a big way

Corn was off a penny in July and slightly higher in December, but soybeans were off to the races up 39 in July and 26.5 in November. There seems to be a fundamental worry of tightness in soybean supply. Weekly ethanol numbers were supportive of corn yesterday as production increased and stockpiles pulled back. We have rains coming to the majority of the corn belt the next 7 days that is looked upon as bearish corn and maybe bullish soybeans. We will still be watching the cooler than average temperatures the next 2 weeks for stunting early growth. Weekly export numbers were lower than expected for corn and soybeans so expect some pressure this morning. We will be watching 7.27 in July corn and 16.98 in July soybeans to start today. NFC Grain Comments Options -6.3.22 (1)