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Today’s Prices

Grain prices finished mixed today as the trade prices sort out the Russian/Ukraine war combined with exploding grain prices.  

Weekly Price Summary

Grain Market News

Corn: Monthly Chart

This is a chart of corn prices over the last 28 years, corn hit a record high back in 2012 and today nearby March corn future hit $8 per bushel.

We are very close to the all-time record high for corn prices here in the US.

Today’s high in corn takes out last years high of 7.75.

Soybean: Monthly Chart

We recently hit 17.65 for nearby soybeans, that took out by nearly a dollar, the highs of last year.

Coming very close to the all-time highs that were posted in the summer of 2012 at 17.94.

KC Wheat: Monthly Chart

KC wheat has rallied $4.50 in about a weeks’ time, that is a remarkable rally.

Todays high at $12 in the nearby KC chart is the second highest ever recorded, second only to 13.70 recorded back in 2008.

The bottom line is that prices across the globe are either near or at all-time record high levels and extreme caution is warranted as prices reach record highs and record large pull back can be expected as well.

Grain Market News

Grain Market News

Pray for Ukraine

Its heart wrenching to see that not only has Russia invaded and attacked Ukraine, beginning in the first day or so with primarily military targets, but more recently civilian homes, apartments, places of work, hospitals, and schools have been bombed.

We urge all our listeners to please pray for the people of Ukraine.

Grain Market News

May Corn Chart

Corn prices exploded to the upside; in about 8 trading days the market has rallied a $1.27 in the corn market.

This massive rally in just a weeks’ time is due to the Russian attack on Ukraine, concerns about old crop supplies being available to the world, at this time they are cut off, and the new crop which may be in question for Ukraine if they can’t get acres planted a month from now.

March Soybean Chart

Soybeans have not seen the same rally as corn given the fact that there is very little soybeans produced in Russia and Ukraine.

Certainly, sunflowers are a big crop in Ukraine and a lot of that sunflower oil is exported to Europe.

The sunflowers and sunflower oil are much smaller in volume than global soybeans.

Therefore, the war by Russia on Ukraine is not affecting the soybean market nearly as much as it is wheat or corn.

But sunflowers and sunflower oil are much smaller

March KC Wheat Chart

Wheat prices have been affected the most by the Russian/Ukraine war with prices in just a weeks’ time rallying $3.34. This is an absolute massive rally in a short period of time.

Again, caution needs to be exercised in these markets with this type of unprecedented volatility.

Questions or Comments

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