Lower prices to finish the week.

Corn and soybeans prices continue to be weighed down by seasonal pressure and macroeconomic concerns as we move towards another rate hike by the Fed next week. A 75-basis point move is fully priced in and there is a decent chance of a full 100-point hike. In other bearish news, tensions are rising again between the US and China over Taiwan. The White House is talking about putting more economic sanctions on China and China is sanctioning CEOs of US defense companies. China has been buying soybeans lately so that is supportive news but have not been active in the corn export market. Putin and Turkey’s President Erdogan met about the grain corridor yesterday, but we have not heard any news. For today, we are watching 6.56 & 14.35 for support and 6.88 & 14.75 as resistance. NFC Grain Comments Options -9.16.22 (1)