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### Home ┬╗ Corn and Soybean Futures Plummet to Three-Year Lows###

**Source:** Sosland Publishing Co.

On February 22, corn and soy complex futures experienced a decline, reaching fresh three-year lows on contracts for both commodities. This downward trend was driven by various factors such as ample domestic supplies of corn and soybeans, increasing South American supplies due to improved weather conditions, uncertainty surrounding demand, and technical selling pressure. The wheat futures market saw some mixed movements, with Kansas City and Minneapolis contracts dropping while Chicago contracts showed modest gains. Expectations of new US sanctions on Russia, the worldÔÇÖs largest wheat exporter, offered some support to wheat futures. The May corn future dropped 5┬¥┬ó to close at $4.18┬¢ per bu, while Chicago May wheat gained 1┬╝┬ó to settle at $5.79┬╝ per bu. Kansas City May wheat saw a decline of 3┬ó to close at $5.71┬¢ per bu, and Minneapolis May wheat dropped 6┬ó to close at $6.55┬¢ per bu. May soybeans fell 12┬¢┬ó, closing at $11.52┬¢ per bu, with May soybean meal losing $5.30 to close at $331.40 per ton, and May soybean oil decreasing by 0.62┬ó to close at 44.80┬ó a lb.

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