May contracts for all three wheat markets topped $11 overnight, though HRS futures have since retreated below that level. Soybeans are firmer, while corn is mostly higher this morning.
Winter wheat futures are sharply higher this morning in followthrough buying, though well off their overnight highs. Spring wheat is mixed, while corn and soybeans are lower.
Winter wheat futures surged above last week’s highs amid disruptions to Black Sea wheat exports. May corn futures traded near their highs, while soybeans and spring wheat remained well below last week’s peaks.
Grain and soy markets are posting solid gains to start the week. Cattle futures are under pressure as hog futures work on a rebound from last week’s weak technical performance.
Corn and wheat futures are trading limit up in most contracts, while soybeans are sharply higher in reaction to Russia’s invasion of Ukraine. Front-month U.S. crude oil futures are nearly $7 higher.
