The war in Ukraine rattled the overnight markets. Oil surged to $130 dollars a barrel. This will have an impact across all markets today.
Investors are spooked over a possible ban on Russian oil. Over the weekend, the national average for a gallon of gas surpassed $4 dollars.
Six major ag groups have sent a letter to the White House, urging the administration to allow year-round E-15 sales to reduce costs at the pump.
Related:
Markets react to Russia seizing nuclear plant
Russia and China agree to a 30-year gas deal with new pipeline
Tensions between Russia and Ukraine are priced into corn and wheat futures
China lifts wheat import restrictions on Russia; NAWG offers insight