Will China stay in the US corn market?

The big corn export sales from last week could not keep the corn market positive yesterday as March finished almost 6 cents lower on the day but beans finished 14 cents higher taking back much of Wednesday’s losses. Both are a couple cents lower overnight. China came in for the first sizable purchase of US corn since last May. Now the question is whether this is a one off or the start of a flurry that could get our corn export program closer to fine. We will be watching intently next week as a no show could cause a selloff. Bean exports remain in great shape and the soybean price action has us thinking we are tighter than the USDA is telling us. Today, Let’s watch 6.72 & 15.22 for support and 6.88 & 15.38 for resistance. NFC Grain Comments Options -2.2.23 (3)

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