Last week’s markets only had four days of trading, but Russia’s invasion of Ukraine produced wild swings for commodity futures Thursday and Friday. Jason Britt of Central States Commodities says overall, last week’s finishes compared modestly with the previous week.
That included expanded limits Friday for corn and wheat, while livestock futures began falling from their recent contract highs. Britt says depending on the situation in Ukraine, uncertainty about the market’s direction could linger for weeks.
Jason Britt of Central States Commodities notes that Russia’s invasion of Ukraine overshadowed USDA releases of their chief economist’s acreage predictions for this coming season, as well as the monthly Cattle On Feed report and favorable weekly export sales numbers.