Concerns about a new, heavily mutated variant of Covid-19 produced high anxiety among traders overnight, as global stock markets and oil prices plunged, while bonds surged (yields dropped) amid heavy risk-off trade.
U.S. will release 50 million barrels of oil in a coordinated effort along with releases from strategic reserves by China, India, South Korea, Japan and Great Britain.
Wheat futures are sharply higher with corn and soybeans higher on spillover support. Fed cattle and lean hog futures are off to a higher start to the week, as well…
Winter wheat futures surged to new contract highs overnight, while spring wheat sharply rebounded from last week’s losses amid tight global supplies of high-quality wheat.
