Outside markets bringing commodity pressure

Like we said yesterday if the wheat market was weak, it would take corn with it but it took soybeans with it too. The selling pressure continued overnight and Indonesia is dropping its palm oil export ban on May 23rd taking the bean oil market lower. The stock market and crude oil market backing off big time and has the commodity markets a little jittery. We will see if there is enough negative momentum to go back last week’s lows in corn of 7.69 & 7.03. Weekly export sales were good for corn and really strong for soybeans and mostly it was old crop in soybeans. Watch the overnight lows for first support. NFC Grain Comments Options -5.19.22 (1)