The wheat market got flushed this morning on comments from Pres. Zelenskyy

Pres. Zelenskyy of Ukraine along with some of his ministry are trying to work a deal out where ships may not get fired upon two or three days a week to enter and exit the Black Sea.

Just the thought of it has broken the wheat market $0.50 off overnight highs. At this time Russia does not seem to be open to the concept or talking with them. But just Zelenskyy discussing at unnerved the market.

This chart below is the 60 minute continuation, and it shows major support just underneath this morning’s lows. 655-659 looks like rising momentum support that should stabilize the market.