Corn Commodity Markets, Prices & Futures
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Latest News From Corn Markets
Talks lead to no end to Russia/Ukraine fighting
Russia’s attack on Ukraine is expected to halt the processing and export of Ukrainian oilseed crops for at least one month, curbing flows of sunflower seed to the European Union, consultancy Strategie Grains said.
During his press conference at USDA’s Ag Outlook Forum, Ag Secretary Tom Vilsack said it was “too early to tell” what the impacts will be from the Russian invasion. . .
May corn futures plunged 34 1/2 cents to $6.55 3/4, the lowest closing price since Feb. 18 but still up 3 cents for the week. December futures fell 25 cents to $5.79 3/4.
Possible talks surface as the Russian invasion continues
Despite signs Russian President Vladimir Putin may be ready to talk with representatives from Ukraine, Cargill confirmed a ship it chartered was hit in the Black Sea on Thursday. The vessel was empty at the time.
The Russia-Ukraine crisis sent wheat prices skyrocketing 50 cents higher, with corn up 30 cents at one point Thursday. Crude oil also soared above $100 per barrel, hitting the highest level since 2014.
USDA now predicts an $11.0 billion ag trade surplus for fiscal year (FY) 2022. That is up $500 million from its prior outlook and $2.1 billion above FY 2021.
Iowa Attorney General Tom Miller announced Iowa State University agriculture economist John Crespi will conduct an economic summary of fertilizer markets and the rapid prices increases.
AgriTalk’s Davis Michaelson hosted Vince Malanga, president of LaSalle Economics, on Tuesday, Jan. 25, to dive into the current events and potential market impacts.