Corn & Wheat Futures Pause as Ukraine Export-Disruption Concern Eases

Corn & wheat futures have paused at six and three-month highs (respectively) with eased concerns that tensions between Russia & Ukraine would disrupt Black Sea exports.  Corn futures and wheat futures both have major crop production reports pending on Monday so any major movement from here would be from major news.
 
Both corn futures and wheat are trading just a few cents per bushel below yesterday’s highs, which for corn futures was a high not seen since early December.  Yesterday’s high with wheat futures is a high not seen since early September.

You can expect to see a quieter grain trade  as concerns ease over the disruption of exports out of the Ukraine,” said Laura Taylor, a senior commodities broker at RJO Futures in Chicago, regarding the current corn futures & wheat futures situation.

The trends for corn futures and wheat futures are up with no top yet in sight.  I think the major move before Monday morning’s USDA Crop Production report has already happened, and will be looking for pull-backs in both corn futures & wheat futures.

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