Weekend rains spotty

Weekend rains disappointed in parts of IL, IN & MI. These are areas that are significantly dry, and they do not have good chances of rain in the next 10 days. Some areas did much better, but weather premium is getting built back into the market as the forecasts do not have good rains until the 11-15 day which is hard to count on coming to pass. The WASDE did not give us much to go on other than some weaker demand numbers and funds were trimming shorts in corn and wheat and adding back longs in soybeans last report, and we expect see similar activity on the next report as well. We will be hanging on every forecast until some widespread coverage hits. For today, we will use 6.02 & 13.70 for support and 6.20 & 13.92 as resistance in July contracts. For new crop use 5.30 & 11.95 for support and 5.48 & 12.32 as resistance. NFC Grain Comments Options -6.12.23 (1)

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