River levels continue to struggle

Corn and soybeans finished last week up 6.5 cents and 16.75 cents, respectively after some lower production numbers out of the USDA on Wednesday. Friday’s pullback is a little concerning with such supportive numbers on the production side. Argentina remains very dry and planting is at its slowest pace in 6 years down there. The USD has backed off overnight down 75 cents but still trading above 112.50. We need to see a move below 110.00 to get excited about the USD really moving lower. Russia is using drones to terrorize Kyiv and Odessa over the weekend. This has wheat a little higher but nothing major. The Mississippi river is still struggling with low water levels keeping barge traffic at a trickle. The 7 day & longer forecasts look promising so hopefully we can get those levels a little higher. For today, we are using 6.84 & 13.74 for support and 6.99 & 14.02 for resistance. NFC Grain Comments Options -10.17.22

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