Will markets continue to price in weather risk?

The weather forecasts remain hot and dry through the weekend then we see some relief of lower temperatures but no real rain chances until next weekend. Now with that said, corn has been stopped at 6.05 and 5.36 a couple times this week so those will be the levels we watch for resistance today as we finish the week. Soybeans are working on rounding out a short-term bottom, but we still need to see November moving above 12.10 before the market can get bullish. The market will be digesting every new run of the weather models and react accordingly but until there is some verification of rain hitting the ground we will have a volatile market. For today, we will use 5.80 & 13.15 for support and 6.05 & 13.58 as resistance for July. We will use 5.20 & 11.53 for support and 5.36 & 11.91 for resistance in new crop contracts. NFC Grain Comments Options -6.2.23