Weather and Black Sea took markets higher now they have pushed them lower

The corn and soybeans gap opened lower last night as weather forecasts brought more rain and cooler temperatures have the bulls on the back foot. There are still drone attacks back and forth between Russia and Ukraine over the weekend but nothing that is supporting the wheat or corn markets. We are getting competitive in the export market with these lower prices and are seeing more flash sales with China being somewhat active. We are behind on new crop sales and need to see this trend continue. Fund were big buyers on the last report, but they obviously flipped to seller to finish the week. They are now estimated to be flat corn, long 100k soybeans and short 55K wheat. For today, we will use 5.14 & 13.34 for support and 5.38 & 13.91 as resistance. NFC Grain Comments Options -7.31.23