Markets Shift Focus To New Crop Ukraine Issues March 7, 2022
A higher overnight start for old crop corn futures failed to hold. The day closed lower. It also failed to take out Friday's 782 3/4 highs. The trade was quite eager to point out new crop futures were the leader today. Both new contract highs, and a new high-close, were noted today for the December. The trade may suggest it has factored in what it can for old crop upside risk. The market is now interested in discussing "how severe" of a problem new crop Ukraine grain production will see.
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