Weakness to start the week

Lower prices to start the week with Corn off 10 cents and soybeans off 20 cents this morning. China has initiated a 2-phase lock down of Shanghai as Covid cases are slightly higher but with China’s zero Covid policy they are planning city wide testing this week. Seems like a ploy to get input prices lower or just a ridiculous policy to prove that China can eradicate the virus. China still bought soybeans over the weekend so import buyers are still working. We have the acreage report on Thursday which should keep these markets supported. We need to watch last night’s lows of 740.75 and 1687.5 for the May contracts. NFC Grain Comments 3.28.22

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