A little pull back overnight but bullish sentiment remains

Corn, soybeans and wheat were higher yesterday on bullish winter wheat conditions. Overnight there was a minor pullback as corn and soybeans were off 5 cents and wheat backed off 10 cents but overall bullish sentiment remains intact and look for price support on any pullbacks. The biggest news was the soon-to-be #2 at the Fed spoke to more rates hikes and a more rapid pace in reducing their balance sheet of bonds and other fixed-income securities. This led to a drop in the bond and stock markets yesterday and both moved even lower overnight. For today watch the overnight lows as we had sellers but the session finished well off the lows. NFC Grain Comments 4.6.22