Closing Market Report- 2/17/22- Wheat Higher, Corn and Soybeans Firm on Thursday


Plenty of volatile trade seen on Thursday. The soy complex and the corn market began the day with sharp early gains, but could not hold those gains, fading at midsession. A new contract high was made in March bean oil and the contract high was matched on November beans, prior to the sell-off. Corn and soy recovered to close a couple cents higher, while winter wheat markets finished the day with solid gains. Most of the strength in winter wheat can be tied to the escalating tensions between Russia and Ukraine as the world watches and waits. Hogs continued to push higher again today while cattle were mixed to lower.

Farm and Ranch Director Jesse Allen has our closing report:

Also, more analysis with Bryan Doherty of Total Farm Marketing on today’s episode of Market Talk: