Macro contagion

Corn and soybeans both lost over 20 cents last week even with Argentina crops getting slashed and we were looking for a bounce this week but the Silicon Valley Bank failure over the weekend has the outside markets jittery. This looks to be triggering some fund liquidation in the grains as many fund managers will look to shore up their liquidity in the short term. Bonds and metals are rallying, and the USD, stocks and energies are lower so we will need to see if there is follow-through this morning. So, we will have to focus on these issues in the short term. Let’s watch 6.00 ¼ and 14.78 for support and 6.22 & 15.20 for resistance. NFC Grain Comments Options -3.13.23