Ukraine and Russia Talk, No Agreement Met

Another day of locked limit up trade was noted for winter wheat. In our last look at synthetics using options, as options are still trading, the market was pricing in about $2 larger. To be clear here, these "synthetic" price evaluations change quite a bit during the day. As a small reminder, Ukraine's wheat crop is hard red winter. Don't argue with the fact the US markets chose the Chicago soft red contract as the leader.

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