US commodity futures markets are closed for President’s Day. They will open regular time this evening.
President Biden had two phone conversations with Russia’s President Putin Sunday, the last one was 2:32 AM Monday morning in Moscow.
CBS News reported at 7:59 PM Eastern Time Sunday that, “Putin had just ordered Russian to invade Ukraine in its entirety, with reserve units following to run an occupation.”
CNN reported just before 9 PM Eastern Time:
“President Biden accepted in principle a meeting with President Putin in Paris this Wednesday if an invasion hasn’t happened,”
White House Press Secretary Jen Psaki reported, “We are always ready for diplomacy. We are also ready to impose swift & severe consequences should Russia instead choose war. And currently, Russia appears to be continuing preparations for a full-scale assault on Ukraine very soon”.
Tech Talk from the Tech Guy
There are two primary types of price charts:
The price chart most people use are bar charts with each vertical line being the trading range for one day for a given futures contract from the first trading day of the contract to the last trading day for that contract, spanning usually two years to as much as four years.
December corn contracts often trade four years, November soybeans and CBOT July wheat three years, July KC wheat two years. The first trade of any contract happens the first day there is an offer and a bid at the same price. Theoretically, March 2031 corn could start trading this week… or any futures contract not already trading could start any day this week or next week, etc. Charts plotting each day’s price range from day one to the last trading day of a given futures contract are Static Charts. Think Static = One contract price history with a beginning & an end.