Grain futures faced early setbacks during the week but showed signs of recovery following plentiful rains across the central U.S. Wheat prices surged by double digits, marking a 5-week high due to ongoing drone attacks by Russia on key Ukrainian ports. However, various factors influenced the movement of the grain market this week, including planting progress, outside markets and weather patterns. The release of the USDA’s first weekly crop progress report and the latest export inspections/sales data, coupled with large supplies of wheat and other grains such as corn, weighed on pricing. Despite expectations that US farmers will soon begin planting, harvest pressure from Brazil limited gains for the soy complex.

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