Russian invasion of Ukraine causes ag markets to tumble
Ukraine says that it has suspended operations at all of its ports after Russia launched a full invasion of the country. That is causing major concern about the flow of supplies, from one of the world’s top grains exporters.
Overnight, the DOW and foreign markets tumbled. Brent crude reached $100 dollars a barrel, for the first time since 2014. The commodity markets are expected to react later this morning when President Biden announces what the White House calls “massive and targeted” sanctions.
Given the latest global news, wheat and corn went “limit up” overnight, and soybeans rose too. Our market specialist Marlin Bohling has more insight.