Grain Markets Commentary
Fresh contract highs for corn overnight
Grain and oilseeds move higher overnight after the long weekend. Weather issues here in the US and of course the Russian/Ukraine conflict keeping the upside as the path a least resistance. We also have some weather headwinds in South America as drier weather is putting stress on crops in Brazil and Argentina. China has come back to the export market in a big way and we should be looking for exports to be adjusted higher for both old and new crop marketing years. We reached $8 corn overnight in the May contract. The month long siege of Mariupol is about to end with Russian control. Watch for firm prices until the US gets a good planting window.