Limited volume traded on Thursday, leaving most items flat. The heightened volatility on the CME has weighed on some participant’s minds leading to a hold-off until Monday or Tuesday of next week to re-assess the market situation as the end of quarter one approaches. The only move for today was Illinois ruminant meat and bonemeal, with a slight drop on the high end of the range due to persistent reports of buyer pushback.
Instability continues in the CME agriculture market for Thursday with sanctions ramping up and looming over the global flow of commodities. Sanctions are expected to intensify the risk of shortages and perpetrate unsettled tones on daily trade movement.
May futures saw wheat up $0.2875/bu, reversing course from yesterday to $10.98. Corn futures were higher by $0.2450/bu to $7.54, soybeans increased $0.1925/bu to $16.68, while soybean meal dropped $3.90/st to $474.10.
The charts below show stock…
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