Friday 12th USDA Supply/Demand Report

IMHO won’t be surprised to see Higher corn and Beans acres

Market movers
1) rain is still falling into Monday morning for some
2) 4 ships this weekend moved grain out of Ukraine terminals
3) Europe’s Heat and Drought/Corn Demand??
4) China/US/Taiwan

Just some numbers to follow
Dec. Corn still the gap at 584.25 then possible 552-546
Res: 624.50-627.75 and 656-658.50

Nov. Beans
Support 1390-1383 and 1375
Res: 1444-1451.50 and 1465.50-1468.75

Seems the Western Corn belt will still supply support to futures. Did we see the lows for now, until harvest says otherwise? Dec. Corn (561.75) and Nov. Beans 1304.50??

Call with any questions please/can also find me on twitter.

Scott Capinegro
Branch Office HighGround Trading