Higher Sunday night open ends slightly lower

Corn, soybeans and wheat all finished last week on a higher note with South American weather and escalations in the Black Sea Region and that led to a higher open last night with soybeans and meal putting out new highs. The bulls could not hold those early gains and all three commodities finished the night session slightly negative. The soybean and soybean meal markets are all about South American weather. Argy too dry & Brazil too wet. It does not look good for Argy the rest of February but once Brazil gets harvest rolling, we should see more pressure on the soybean market. Corn and Wheat markets are watching the Black Sea closely because the demand story here in the US is not supportive price. For today, we will watch 6.72 & 15.20 for support and 6.85 & 15.48 for resistance. NFC Grain Comments Options -2.13.23

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