Grains rally as Russian missiles hit Poland, raising potential for wider war

Shira Smolko

Closeup of a green cornfield with maize against blue sky

franconiaphoto/iStock by way of Getty Visuals

U.S. grain futures gained Tuesday pursuing experiences that Russian missiles landed across the border with Ukraine into Poland, killing two people, sparking worries that any opportunity escalation in the war may well endanger the offer that has permitted exports of grains out of Ukraine as a result of the Black Sea.

On the Chicago Board of Trade, corn for December shipping (C_1:COM) shut +1.4% to $6.66 1/4 a bushel, soybeans (S_1:COM) for January delivery settled +1.1% to $14.56 3/4 a bushel, and wheat (W_1:COM) finished +1.1% to $8.27 3/4 a bushel.

ETFs: (NYSEARCA:CORN), (NYSEARCA:SOYB), (NYSEARCA:WEAT), (DBA), (MOO)

Signs of development in talks to increase the export deal for Ukrainian crops earlier experienced weighed on grain futures Bloomberg claimed Russia possible will permit the offer to be extended outside of its preliminary expiration on November 19.

Ukraine has shipped additional than 10M tons of crops as a result of the Black Sea corridor because the offer arrived into pressure practically 4 months in the past.

Price ranges for grains these as soybeans, wheat and corn most likely will see double-digit declines going into 2024, underperforming gold and U.S. Treasuries, John Overstreet writes in an assessment recently posted on Seeking Alpha.

Next Post

Video As A Digital Marketing Rocket Boost

Everyone loves videos and we know video is powerful. But brands often undervalue the power of utilizing video to boost their digital marketing efforts. Part of the problem is the idea that video is expensive. And another is not understanding the full impact of video in online marketing. Related Posts:Ukrainian […]