Good morning,


Corn is up 4 and soybeans are up 20 to start the day.

The markets sold off yesterday on reports that Russia had pulled some troops back from the boarders and that the Russian/Ukraine issue was de-escalating some with talks.

Wednesday Russia said more troops are withdrawing along the Ukraine border, it published video that it said showed tanks, infantry fighting vehicles and self-propelled artillery units leaving the Crimean Peninsula, which Moscow seized from Ukraine in 2014.
The Kremlin said NATO’s assessment was wrong. Moscow’s ambassador to Ireland said forces in western Russia would be back to their normal positions within three to four weeks.

U.S. President Joe Biden said on Tuesday that more than 150,000 Russian troops were still amassed near Ukraine’s borders and an invasion remained “distinctly possible”. He said Washington had not yet verified any pullout.

The forecast in South American this morning is back to hotter.  The temp maps have brought back the dome again this morning.  It’s been increasing and decreasing every other day since last Friday.  La Nina is still around, more centered in Southern Brazil than Argentina.  The second crop corn in Brazil is going to need a significant change to wetter weather, otherwise they look to sustain crop losses too.  Argentina, we see some rain in the South, where the North will be mostly dry.

Have a Safe Day!

Garry Gard