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Chicago wheat futures rose sharply on Monday after hitting 13-1/2 year highs on Friday, lifted by concern that Russia’s invasion of Ukraine and Western sanctions will continue to disrupt Black Sea region grain exports.

The new agreement means farmers will have “more choices and additional tools” for integrated weed management. In the process, Bayer remains committed to marketing its current crop systems and developing new technologies.

USDA’s 2022 supply and demand forecast came out just hours after Russia declared war on Ukraine. And as the crisis continues, USDA Chief Economist acknowledges the situation is impacting world trade and crop prices.

Despite signs Russian President Vladimir Putin may be ready to talk with representatives from Ukraine, Cargill confirmed a ship it chartered was hit in the Black Sea on Thursday. The vessel was empty at the time.

The Russia-Ukraine crisis sent wheat prices skyrocketing 50 cents higher, with corn up 30 cents at one point Thursday. Crude oil also soared above $100 per barrel, hitting the highest level since 2014.

AgriTalk’s Davis Michaelson hosted Vince Malanga, president of LaSalle Economics, on Tuesday, Jan. 25, to dive into the current events and potential market impacts.

Combined corn and soybean area is forecast at 180 million acres, below the historical high of 180.6 million planted in 2021.

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