7/14/2023
Jul 14, 2023
![7/14/2023 7/14/2023](https://storageatlasengagepdcus.blob.core.windows.net/atlas/all-media/glaciplaincoope/commentary/2023/july-september/thumbnails/tissue-soybeans.jpg?ext=.jpg)
Corn goes into the weekend with a firm 13 cent higher finish on Friday. Soybeans worked a 30-cent range throughout the session and provided plenty of opportunity on both sides of unchanged before settling 1-9 higher. Trade was not afraid to buy going into the weekend despite weather forecasts adding precipitation into next week. A quick look at the corn charts shows that we have a nice setup and some room for a decent rally if these rains don't materialize. Soybeans also have potential to break out higher with the charts forming a potential bull pennant going back to the May low. It will be important to take notes on how November soybeans want to act inside of the 1390-1400 area if we are able to get back to those price levels. Catching up on sales when hovering near 1400 futures isn't a terrible idea. New crop corn in the $5.00-5.10 range is a realistic target, as well.