USA: Grain prices wobble but move higher

Grain prices made it through a choppy session on Wednesday with small to moderate gains by the close. Worries about tight supplies in the United States and export challenges in Ukraine are still front and center, but prices this high are still prone to the occasional round of profit-taking. That didn’t happen today, however. Corn and soybean prices each improved around 0.75%, with most wheat contracts up 0.5%. Between Thursday and Sunday, most of the central U.S. will see at least some measurable rainfall, but few areas will gather much more than 0.25” during this time, per the latest 72-hour cumulative precipitation map from NOAA. The agency’s 8-to-14-day outlook predicts seasonally warm and dry conditions for most of the Midwest and Plains between June 15 and June 21. On Wall St., the Dow shed 352 points in afternoon trading, falling to 32,827 as investors eye possible signs of an economic slowdown, including expectations that the GDP will rise just 0.9% in Q2 of 2022. Energy ...