Russia Ramps up Attacks

Corn and soybeans finished last week slightly higher and extended higher overnight. Russia has ramped up attacks over the weekend with some saying it is the biggest shelling since the inception of the conflict. The USD continues to rally back towards its highs trading over 113.00 overnight but can’t slow down the rally so far. The 2000+ barges backed up on the Mississippi at two choke points near Memphis & New Orleans has been cleared. Traffic is still slow and one-way in shallow areas but for now the backup is gone. Basis levels likely will not improve much but the weighing on the market should ease. For today, watch 6.98 & 14.02 for resistance and 6.72 & 13.50 for support. October WASDE is on Wednesday. NFC Grain Comments Options -10.10.22

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