Amid escalation of war and ongoing tensions between Russia and Ukraine, the wheat market took off this week, Randy Martinson of Martinson Ag Risk Management told Carah Hart of Red River Farm Network on the Agweek Market Wrap.
On this week's Agweek Market Wrap, Randy Martinson of Martinson Ag Risk Management and Randy Koenen discuss the market volatility brought on by WASDE's bullish soybean numbers, poor corn exports in the first export report in months, concerns about the economy and the fact that everyone is waiting to see harvest results.
Commodity markets ended the week 'on a bang,' Don Wick said on the Agweek Market Wrap. Randy Martinson of Martinson Ag Risk Management said a combination of factors came into play, including Russian President Vladimir Putin indicating he would not support extending the deal to allow exports out of Ukraine, a sharply lower U.S. dollar, and the expectation that the USDA's export reporting system will be back up next week and will show strong smaller sales.
With the August WASDE and Crop Production reports out of the way, traders are now focused on weather and crop conditions, Carah Hart of Red River Farm Network said on this week's Agweek Market Wrap. And Randy Martinson of Martinson Ag Risk Management said that attention is showing a big east versus west disparity in this year's crops.
Weather will continue to be the market focus, at least until the end of August, as ideal conditions will be needed for the soybean crop to reach its potential, Randy Martinson of Martinson Ag Risk Management told Don Wick of Red River Farm Network on the Agweek Market Wrap.