Biden and Xi meet

Overnight corn and soybeans are lower as they keep the theme of last week where corn was down 23 cents and soybeans lost 12 cents. Biden met with China’s President Xi this morning to discuss One China policy and US’s commitment to its allies. We have not heard any news on trade. China is backing off its Covid restrictions as they move into the new year, and they bolstered their real estate market with adjustments to the way pre-sale money is accessed. As we finish up harvest here is the US and SA works on 1st crop planting, bulls are getting worried about demand as the bears get more confident. Today, we will watch 6.52 & 14.28 for support and 6.82 & 14.55 as resistance. NFC Grain Comments Options -11.14.22

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