The early success of the “Grain corridor” has put pressure on the wheat market. This success has people involved thinking they will be able to really ramp up exports in the next 2 months. This may be true but we are still in the wait and see camp for it has a too good to be true feel so far. Ukraine exports a lot of corn too as we all know but with the corn crop failure that we are still trying to sort out will eat up the extra corn on the market.
The weather forecast is dry but cooler to finish the month so we are not expecting a long grain fill time period as the corn crop should finish fast. The Pro Farmer crop tour starts on Monday to give us some boots on the ground intelligence. The USD keeps rolling higher back towards the July highs. Today we are watching 5.99 & 13.76 for strong support and 6.22 & 14.18 for resistance. NFC Grain Comments Options -8.19.22 (1)