At Chicago soybeans and  wheat were the golden child while corn got pushed back under the stairs with a can of cold beans for dinner. The panic buying is rolling through to wheat demand according to the punters. Stock piling of essentials like bread, pasta, flour and other wheat products saw the punters pick up May wheat, running it as high as 563.25c/bu for during the session. The market closed just of the high at 562.5c/bu. The December contract was just a quarter of a cent lower than the nearby contract.
Is this justifiable, who knows, is this sustainable, who knows. The product sold will need to be replaced in the short term but at the end of the day there are still the same number of mouths to feed in the long run.
There may well have been a big influx of Wall St money in the wheat and soybean pits as the punters looked to park funds after the failure of the US senate to pass the stimulus package and the Dow fell 892 points.
Petrol futures in the US fell sharply as people are not going anywhere. Corn may be the biggest loser in all this with ethanol production in the US expected to fall further and Ukraine corn slotting into global import demand. This could flow on somewhat to new crop sorghum basis, something to watch.

Saudi picked up 1.2mt of barley in the their recent tender. Prices were said to have been around US$23 less than their previous tender where they bought 900kt. Russia excluded wheat from the recent export ban list, some punters might be expecting this to change.