Soybeans take the reigns

Soybeans rode money flow and talk of minimal farmer selling here and in SA. Corn added a few cents as well while the wheat market backed off from the big run on Tuesday. Overnight soybeans added 6 cents on yesterday’s high stopping just short of 1450. Export sales were strong for corn and wheat but slightly disappointing for soybeans. We are moving in prime acre battle period as decisions get made and we have big ranges in estimates for corn acres from 91 to 96 million and bean acreage from 85.5 to 89 million. Basically telling you know one has a good grip on where we are going to end up. We were surprised about the amount of nitrogen that got applied this fall so we are in the 92 million corn and 88 million soybean camp but new crop contracts keep putting out new highs and we will be looking to take advantage soon. For today lets watch 6.15 for support in corn and all the way down at 13.93 for soybeans. NFC Grain Comments 1.27.22 (1)

Sign up for text alerts from NFC! Enter your mobile number to join: