The latest happenings in the Black Sea region led to mixed results for grain prices to start the week. Details were thin, but talks of a ceasefire between Ukraine and Russia put corn prices on their heels Monday. Soybeans suffered some spillover weakness, taking on modest losses by the close. And wheat prices finished with mixed results after another volatile session today left traders wondering whether Russia will end up banning grain exports for the rest of this marketing year.
Scattered rain and snow will be possible through parts of the Midwest and Plains between Tuesday and Friday, per the latest 72-hour cumulative precipitation map from NOAA. No areas are expected to see massive amounts of moisture later this week, however. NOAA’s 8-to-14-day outlook predicts seasonally wet weather for most areas east of the Mississippi River between March 21 and March 27, with warmer-than-normal conditions building in parts of the Northern Plains and Corn Belt during this time. On Wall St., the Dow moved 450 points higher this morning but reversed into a 45-point loss in afternoon trading to 32,898. Volatility remains the norm as the market attempts to assess the latest headlines coming out of Ukraine and Russia. Negotiations continued between the two countries but few details were released today. Energy futures saw significant cuts, with crude oil tumbling nearly 6% lower to fall back below $103 per barrel. Diesel and gasoline each faded around 4% lower. The U.S. ...
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