Surprise rains across Iowa and Illinois today

Matt Huston

Corn has been working higher off this week’s lows but has been stymied by the 6.10 area while soybeans continue to get held down by demand concerns in the export market. There were some rains across Iowa and Illinois this morning that were a little unexpected but the overall forecast has not changed and the WCB will struggle the next 2 weeks. We will see if weather can trump the outside market forces and worries about China curbing the consumption as their economy struggles with Covid lockdowns. China was in for 133k tons of corn this morning which was our first flash sale in a while. Not expecting much selling today but will be watching 5.85 level in Dec corn for support and 13.22 area for Nov soybeans. NFC Grain Comments Options -7.15.22

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