By Kirk Maltais


--Wheat for March delivery rose 2.6% to $8.00 1/2 a bushel on the Chicago Board of Trade Monday as tensions increased at the Russia-Ukraine border.

--Corn for March delivery rose 0.8% to $6.21 a bushel.

--Soybeans for March delivery fell 0.8% to $14.03 a bushel.




Heightened Fears: CBOT wheat futures were higher Monday on news that the U.S. has ordered several hundred troops on standby to potentially deploy to Eastern Europe amid heightened tensions over Russia's presence near Ukraine's border. NATO said allies were sending ships and jet fighters to its northeastern and southeastern member countries. "Wheat would have a tendency to be bid on a military conflict in Ukraine...Russia and Ukraine are major breadbaskets to the world," said Robert Yawger of Mizuho Securities USA.

Quenched Thirst: Rainfall in Southern Brazil pressured soybean futures Monday. Wetter weather in Brazilian soybean-growing areas over the weekend eased concerns about dry conditions hurting crops there. "Showers are forecast for southern Brazil, Paraguay, and much of Argentina early this week as well," said Jack Scoville of Price Futures Group. Research firm DTN is forecasting scattered rainfall in both Brazil and Argentina through the first half of the week, with temperatures near to above normal.




Holding On: Even with the steep drop seen in the Dow Jones Industrial Average today, grain futures generally managed to avoid that weakness. "Wheat and corn are performing very well amid such financial market losses," said AgResource. The firm adds that the uncertainty surrounding a potential Russia-Ukraine conflict is the main source for the support, but traders have been amassing a large net long position in grains, according to the CFTC's Commitment of Traders report on Friday.

Leading Destination: China is the leading destination for U.S. corn and soybeans inspected for export for the week ended January 20, the USDA says Monday. The USDA reported that soybean inspections for the week totaled 1.3 million metric tons, while corn inspections totaled 1.12 million tons and wheat inspections totaled 400,973 tons. Corn and soybean inspections are down from the previous week, while wheat inspections are up. China was the destination for 347,449 tons of corn, as well as 640,876 tons of soybeans - making it the leading destination for both grains.




- ADM will release its fourth-quarter earnings report before the stock market opens Tuesday.

--The EIA will release its weekly ethanol production and stocks report at 10:30 a.m. ET Wednesday.

--The USDA will release its weekly export sales report at 8:30 a.m. ET Thursday.

-Mondelez International Inc. will release its fourth-quarter earnings report after the stock market closes on Thursday.


Write to Kirk Maltais at


(END) Dow Jones Newswires

January 24, 2022 15:33 ET (20:33 GMT)

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