Agriculture News
Winter wheat futures locked up their 75-cent daily trading limit overnight, while spring wheat rose its 60-cent limit. Corn traded sharply higher, while soybeans posted just slight gains.
Grain and soy markets posted strong gains overnight, led by wheat, amid increased anxiety with the Russia/Ukraine crisis.
The figures for Feb. 1 feedlot inventory and January placements and marketings were in line with pre-report expectations.
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Corn, wheat and soybeans export sales above expectations
Wheat and corn futures retreated from yesterday’s strong gains, while soybeans saw followthrough selling overnight after a weak finish Thursday.
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.