US will not send diplomats to Winter Olympics

Corn and soybeans finished lower yesterday but now where near the lows and 1st support levels held. The US announced they will not be sending diplomats to the Winter Olympics in China due to on going genocide and crimes against humanity. China responded that there will be severe consequences if the US does go ahead with the boycott. We doubt it means China will stop buying Ag products but it could mean more volatility. We have December WASDE on Thursday and estimates look for a supportive corn report while soybeans could be neutral to negative depending on what the USDA does with exports. Watch 5.75 level for corn and 12.54 for soybeans as 1st support. NFC Grain Comments 12.7.21 (1)

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