US wheat jumps nearly 3%

Wheat prices stood out again this Friday evening in Chicago, with a new jump of nearly 3%. Planting delays in Russia and unsettling weather forecasts continue to push the trend upwards, while the new rise in tensions between Ukraine and Russia remains the focus of market attention. Corn prices also followed wheat into positive territory, the day after a lackluster USDA report. The US Department of Agriculture, to the surprise of the market, raised its estimate of US corn yields this year in its monthly report on global supply and demand. The US soybean harvest is still expected to be at a historically high level. Bean prices, however, benefited from the recovery in crude oil prices and a sale of 100 kt to ...