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Wheat futures surge above $11 on escalating Russia-Ukraine conflict; soybeans up sharply, corn trims gains.

Kansas drought area increases

Cotton, beef and pork export sales increase

Winter wheat futures close near 14-year highs amid fears of Russia-Ukraine disruptions; corn erases gains, soybeans drop sharply.

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.

SRW wheat basis firmed and HRW basis didn’t drop too much given the surge in futures.

Fed chairman comments | Farm groups focus on input costs, need for higher reference prices

Biden’s address falls flat for some, China will not join other nations in sanctioning Russia and market volatility continues...

Winter wheat futures soar 75-cent limit on fears of disruptions from Russia-Ukraine; corn near 10-month high, soybeans lower.