9/13/2022

Considering what the outside markets did today grains hung on pretty well.  The CPI rating came out this morning at 8.3% vs an expected 8.1% and the stock market didn't like it.  Before the open the DOW indicated it was traded up 250 points, but when that number came out, we were down 700 points almost instantly and is currently trading down about 1,000 points.  Crude oil started up $2 today on tight supply early this morning, then traded down $2, and is currently back to unchanged.  The US dollar is sharply higher up 1.364 at this time and currently trading 109.68.  That is not good for exports in a market we are already not competitive in.  Feds will raise interest rates again next round.  The railroad has until Friday night to come up with a deal or their employees strike Saturday.  There is not much new information for the grain markets as we continue to digest yesterday's USDA report.  I feel it is going to be hard for the market to work too much higher as harvest approaches.