World Perspectives
feed-grains soy-oilseeds wheat

Market Commentary: Erase Part of Yesterday

As forewarned in yesterday’s commentary, “if there is an extension of the corridor agreement, expect U.S. wheat to tumble hard and fast.” The missile that hit Poland turned out to possibly be an errant output of Ukrainian air defense. Plus, Russian Deputy Foreign Minister Sergei Vershinin told Izvestia that Moscow wants no disruption to global food security efforts, indicating the grain corridor agreement would be extended.  Grains and oilseeds were in the red overnight. The Russians acknowledged “certain progress” toward their demands for a deal, and the UN said there are reasons to be “cautiously optimistic.” That was all enough to sink wheat but overall, this remains a sideways market. ...

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