Will rains show up for Brazil next week?

Corn and wheat are softer with soybeans trading higher.

Last week: Corn lost 13.25 cents while soybeans and wheat gained a few cents.

Not much friendly in the corn market with the jump in US production last week. Will need to see some longer-term help on the demand side.

Brazilian weather is holding current pattern: Hot and dry in N Brazil util possible showers next week and S Brazil still getting too much rain.

Argy is continuing to get good rain.

Chinese president Xi is coming to San Fransico this week for the Asia-Pacific Economic Cooperation summit, and it will be meeting with President Biden in over a year.

Some suggest we will see some good will purchase before the meeting and we have already seen 204K of soybeans this morning, but I think they are looking for more sizable numbers.

Support and resistance

4.58 & 13.37 for support

4.79 & 13.58 for resistance NFC Grain Comments Options -11.13.23

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