Outside markets are still reversing this morning

Grains and oilseeds are softer this morning as stocks and energy markets were lower overnight. The Fed’s hawkish stance from last week has the markets worried about a “hard” landing vs the “soft” landing everyone was hoping for before the last rate announcement. The occupied areas of Ukraine should finish up their voting today or tomorrow not that we doubt what the result will be and then we will see how the EU/US react as Putin has already stated they will use any available means to defend their territory. We have the USDA Quarterly stocks report on Friday which could bring some more volatility to the markets depending on what the USDA’s read is on those levels and this report has been a mover in the past. Look for more pressure to start the day unless we see a turnaround in stock or energy during the day session. For today, we will watch 6.82 & 14.44 for resistance and 6.70 & 14.15 for support. NFC Grain Comments Options -9.26.22 (1)

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