Overnight pressure to start the week

Corn and soybeans had big moves last week so starting the week on a lower trade is not a cause for concern. So many moving parts right now it is hard to pick one to focus on. The Russian Ukraine news is on the front page as US & UK embassy staff in the Ukraine are evacuating. Russian & Ukraine combine for 29% of world wheat exports and Ukraine accounts for 16% of the world’s corn exports so the conflict could move some business to the US. We have a 2-day Fed meeting starting tomorrow that will give them the first chance to raise rates and show they are serious about curbing inflation. Today we are watching 6.05 area for corn and 13.99 for March soybeans for support. NFC Grain Comments 1.24.22 (1)