Here comes the cold!

Bitter cold moving across the Midwest and Southern Plains is bringing a chance of winterkill to the wheat crop. The winter wheat contracts have not shown much concern. The USD took another move lower yesterday after the Bank of Japan made its first interest rate hike. It was somewhat of a surprise to the market as BOJ has been the last easy money haven left after everyone else has been hiking rates to slow down inflation. The USD has yet to trade below 103.67 for any significant time. That is a low from the end of June and if it breaks thru that could mean another $2 lower. The lower dollar is partly responsible for the bounce yesterday and today as US is getting closer to being competitive on the export market and there remains a good window of time for both corn and soybeans to be bought. Soybeans are testing the upper limits of their trading range and a move above 14.92 in March may get it back over 15.00. For today, Watch 6.44 & 14.64 for support and 6.55 & 14.92 for resistance. NFC Grain Comments Options -12.20.22