CBOT #wheat futures are up more than 40 cents per bushel late in the session Tuesday, fueled by the Russia/Ukraine invasion, reaching the highest levels since late November. Tuesday's high in the May (so far) is $8.49-1/2 per bu.
Feb. 22: CBOT December #corn futures broke through $6 per bushel, ending the day up 1.3% and a half-cent below Tuesday's contract high of $6.06-1/4. The only other year in which new-crop corn futures were trading this high in February was 2011.
Feb. 22: CBOT November #soybeans inked a new high of $14.83 per bushel, and the contract is up 7.8% on the month so far. That compares with +6% in the same period last year. These prices are unprecedented for the time of year.
U.S. winter #wheat conditions, % good/excellent (Jan. 23/Feb. 20): KS 30/26⬇️ OK 16/9⬇️ TX 7/10⬆️ CO 20/21⬆️ NE 36/36➡️ IL 42/59⬆️ MT 14/21⬆️ SD 31/24⬇️