Grain Markets Commentary
Too many negatives and too little positives Drone attack on the Kremlin?
Corn and soybeans futures momentum continues to push prices lower. We have too many negative factors: Major planting progress, Fed rate hike, more regional bank woes, debt ceiling debate & recession fears have most commodities backing up. There was a drone attack on the Kremlin overnight that may or may not have been an attempt on Putin by Ukraine. This popped wheat and moved corn off its new lows. This news cycle will drive corn and wheat today and possibly pull beans with them. For today, watch the lows of 5.70 & 13.93 for support and 5.95 & 14.25 for resistance. NFC Grain Comments Options -5.3.23 (1)