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Negotiations & Economic Wars, Market Highs, Food Shortage, Market & Rain Days Update 03/12/2022

Yesterday morning, the USDA announced the sale of:

128,900 mts of old crop corn to unknown

264,000 mts of new crop soybeans to China


Old crop corn and soybean futures have closed higher 8 of the first 10 weeks of 2022


Basis at the Gulf were steady Friday for corn, wheat and beans. Two of the five corn export terminals in Portland, Oregon firmed their basis by 5 cents, while the other three were study.

 

There are some reports from both sides that Russia and Ukraine are “making progress” with negotiations, but the talks must be way behind the scenes as no one seems to who or where talks are taking place. Putin himself said yesterday, Discussions with Ukraine have taken a positive turn.

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