New crop corn lightly broke prior lows. New crop beans are eyeing them. May 10, 2023
The July contract did not retest the 5/3 lows on its morning drive lower and it ended the day higher. December did break the prior 5/3 lows by 1/4 cent but it closed off those lows by the close. This week's moisture in the west is being monitored. Friday's report should show large than expected old crop stocks. The market may change its tune in the coming days when general US dryness returns in the second half of the month.
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