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Grain and soybean futures posted two-sided trade overnight, with wheat and corn narrowly mixed and soybeans under pressure this morning.
Winter wheat futures surge to four-week highs, corn and soybeans also higher as “inflation trade” drives speculator buying.
Winter wheat rises to five-week high on concerns over drought, Ukraine; corn and soybeans also higher.
Winter wheat futures found strong followthrough buying in leading overnight gains in the grain and soy complex. December corn futures pushed to a contract high for a third straight session.
Winter wheat futures jump to two-week highs on concern over Ukraine disruptions; soybeans down sharply, corn mixed.
White House blaming Putin for inflation it believes will be ‘extraordinarily elevated’
Both the HRW and SRW crops showed mild improvement over the past week.
Wheat and corn futures are being supported by supply concerns amid the ongoing war between Russia and Ukraine. Soybeans are under pressure to open the week amid pressure from weakening crude oil prices.