Today’s Prices

Grain markets finished sharply higher across the day as concerns that the war between Russia and Ukraine could escalate.

Grain Market News

Russian Cruise Missile over Romania

The missile was fired from the Black Sea from the Russian fleet and crossed over Romania and into Ukraine.

It landed and struck Ukraine, but it did cross Romanian air space.  

Grain Market News

Corn: Weekly Export Sales

Corn export sales at 1.16 million metric tons.

That’s a very good number, well above the level needed to reach the USDA forecast.

We need to see a number of these types of weeks strung together over the next 90 days or so.

Soybean: Weekly Export Sales

Soybean exports had a disappointing number at 459 thousand tons sold last week.

That is double the level needed to reach the forecast, but it is a marketing year low.

Wheat: Weekly Export Sales

Wheat was also disappointing at 131 thousand tons, less than half the level needed to reach USDA’s export forecast.

March Corn Chart

Corn prices did make a new low for the move this morning but closed sharply higher on the Russian news.

Today was a good performance on the chart but doesn’t really change anything.

We remain in a gradual uptrend.

Todays close right in the middle of the gradual uptrend.

March Soybean Chart

Soybean prices look good on the chart with an outside day up and a new high for the week.

We remain right in the middle of a gradual uptrend.

Overhead resistance at the 15.48 level, we closed at 15.42.  

March KC Wheat Chart

Wheat prices had a good day on the charts.

We’ve had a sideways range in place back to late November, with overhead resistance just below $9.

Today we, moved to 9.13 and closed at 9.09.

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