MS River levels jump but are predicted to go back down

Corn and soybeans finished mixed yesterday with soybeans taking back half of Monday’s losses. Overnight soybeans took back the other half and are back to Friday’s levels. Domestic crush is the biggest driver with robust margins crushers are bidding for product. Export sales are pretty good as well even though river levels are hindering movement down the MS River. Yesterday’s rains raised river levels as much as 1.5 ft in low areas of the MS River, but the National Weather Service predicts it will recede to even lower levels. The next 7 days have rains that favor the Delta which limits any help they can provide as the Upper Midwest looks to be dry. For today we will see if soybeans can extend their rally and will be watching 14.19 as resistance for January soybeans and 13.75 for support. December corn resistance is 6.96 and 6.77 is good support. NFC Grain Comments Options -10.26.22

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