Danube missile strikes and US debt downgrade

Funds did not come to save the grain and oilseed markets with losses ranging from 7 cents to 13.5 cents across the board. Overnight, Russia hit Danube grain sites again causing the markets to rally in the early night session. These gains could not hold the night session as the short-term forecast is expanding rain coverage and Fitch surprisingly dropped the US long term credit rating from AAA to AA+. This caused the dollar to rally against other major currencies which is not helpful for commodity prices. We are in volatile times with the war headlines out there but with the current weather forecast it looks like any rallies off Ukraine should be sold. For today, we will use 5.05 and 13.15 for support and 5.20 & 13.48 for resistance. NFC Grain Comments Options -8.2.23

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