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Winter wheat futures drop near two-week lows on hopes for Russia-Ukraine progress; corn and soybeans higher.

Most states dry/drought area unchanged

The extended weather outlook through June offer no hope of meaningful relief for drought-parched HRW areas, but it favorable for rapid progress for spring-planted crops.

Pork export sales increase

Corn and soybeans firmed after failing to take out Wednesday’s lows overnight. Wheat futures gapped lower but rebounded to fill the gaps and are trading mostly firmer this morning.

Wheat futures drop daily trading limit on prospects for Russia-Ukraine ceasefire; corn, soybeans sink to two-week lows.

Wheat basis rebounds from the plunge the previous week, corn and soybean beans weakens.

Psaki suggests year-round E-15 is under consideration, IEA cuts World oil demand forecast and the Fed is expected to raise rates this week...

Russia and Ukraine: Signs of progress on discussions to stop the war