China Zero-Covid Policy continues

The grain markets are lower again overnight for the 3rd night in a row this week. The stock & energy markets are lower as China locks down Chengdu with a population of 21 million as they continue to chase their Zero-Covid policy. This has the markets worried about demand for the short term but at the same time China has been buying soybeans in the US, Brazil and Argentina so maybe the markets are a little too worried about Chinese demand. USDA weekly export sales will not be published for 2 more weeks as they have experienced issues as they moved to a new system so we will have to watch inspections on Mondays for export information for now. We will be watching to see if crude can finds some support in the mid 80’s. For today we will watch 6.55 & 14.00 for 1st support. NFC Grain Comments Options -9.1.22 (1)

Sign up for text alerts from NFC! Enter your mobile number to join: