U.S. Agriculture Secretary Tom Vilsack indicated his biggest initial concerns related to the Russian invasion of Ukraine and agriculture right now would be possible price spikes for inputs such as fertilizer. Throughout the day, the invasion also caused U.S. agricultural companies to suspend operations in Ukraine, a major grain exporter.
As of Thursday, Jan. 27, March soybeans were up 34 cents on the week and had just closed at a new contract high. Is this market ready to keep going higher?