Morning Grain Markets November 22, 2024--With Audio

Wednesday’s strength in grains was given back yesterday, after what was thought to be a major escalation between Russia and Ukraine the previous night was not as significant as thought. Beans remain under pressure as the weather remains good in South America and speculators work to realign their positioning in world vegetable oils, resulting in a sharp sell off. At the end of the day, Chicago and Minneapolis wheat markets were both 4 lower, with Kansas City down 6. Corn was 3 lower, with beans down 13.

While there is no shortage of things to talk about, it feels difficult to pinpoint what exactly happens next with price as the level of uncertainty when it comes to just about everything is incredibly high.