Can we hold yesterday’s gains?

Corn, soybeans and wheat futures popped higher yesterday on the reports of a drone attack on the Kremlin. No one has taken responsibility and there are many theories with one being a “false flag” by Russia to justify a ramped-up offensive in Ukraine. It is not positive for the extension of the grain corridor with a meeting scheduled in Russia for May 9th. We have seen a pullback overnight after higher trade but are still holding most of yesterday’s gains. We have rain coming into the NW Plains to keep planting progress slow in those areas. Federal Reserve bumped interest rates another .25 percent yesterday as was forecasted. The question is are they done raising? They left the door open for more hikes if the data warrants, but most think they should have stopped yesterday. For today, we will watch 577.25 and 14.00 for support and 5.95 and 14.22 for resistance. NFC Grain Comments Options -5.4.23 (1)

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