Weather, Weather, Weather! And Ukraine

Big day for corn yesterday which was followed by a big overnight session. Soybeans were a little higher yesterday but gained 28 cents overnight. The weather to finish July continues to worry traders as does the escalation of fighting in Ukraine. Russia has targeted the port city of Odessa the last two days with missile attacks. This has wheat and corn markets taking notice. Funds are buying back shorts in corn and adding to soybean longs. We will see if corn has enough juice to get back to the 200 day at 5.75. This rally will likely turn over as fast as it has gone up. Do not get stuck in the mud. For today we will use 5.34 & 13.91 for support and 5.65 & 14.35 as resistance. NFC Grain Comments Options -7.19..23

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