A macro-meltdown

Grains and oilseeds are all down double digits as we have a bit of a macro meltdown on our hands. Stocks, bonds, crude oil and metals are all lower overnight and the USD put in new highs above 112.00. The Fed’s hawkish sentiment on interest rates for the end of the year has markets concerned and risk off sentiment to end the week. The voting is beginning today for the Russian referendums on annexation of occupied territories in Ukraine and are expected to last into Monday, but the corn and wheat markets are more concerned with outside market action so far today. Looking for more pressure to start the day but may find some support at 6.65 & 14.24. NFC Grain Comments Options -9.23.22 (1)