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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.

Winter wheat futures are sharply higher this morning in followthrough buying, though well off their overnight highs. Spring wheat is mixed, while corn and soybeans are lower.

Winter wheat futures soar 50-cent daily limit, corn up 35-cent limit on escalating Russia-Ukraine conflict; soybeans also higher.

Chip Flory and Jim Wiesemeyer discuss the Putin’s attack on Ukraine and the domino effect to the economy, including energy prices and trade. Plus they preview President Biden’s State of the Union address