Russian attacks on Ukraine helped to push wheat futures higher on Monday, while both corn and soybeans advanced as well.
Reports said Russia has increased attacks on Ukraine’s Odesa region on the Black Sea coast in recent weeks, disrupting Ukraine's grain export logistics. Ukraine said today a Russian strike touched off a fire that burned 30 containers of flour and vegetable oil at the port of Pivdennyi. A weaker US dollar was supportive for wheat as well. March Chicago added 5 ¾ cents to $5.15 ½, and March Kansas City was 6 cents higher at $5.21 ¼. March Hard Red Spring was up 3 ½ cents to $5.65 ½, and March Minneapolis closed 2 cents higher at $5.80.
Gains in crude oil and the weaker greenback boosted soybeans after six straight days of losses. March was 5 ½ cents higher at $10.65, and November gained 4 ½ cents to $10.72 ¼.
Corn firmed with the gains in wheat and soybeans. March added 3 ¼ cents to $4.47, and December was up 2 ½ cents at $4.64 ½.
