Weaker markets to open the day with corn down 4 and soybeans down 18.
The Federal Open Market Committee (FOMC) will meet this week which is causing some concern for investors as clues to the imminent rate hikes that may be revealed. This has grains and energy markets lower this morning.
Rain across Southern Argentina over the weekend with amounts of 1.5-4.5 inches. Northern Argentina and Southern Brazil remained mostly dry. There are spotty chances of rain over the next 10 days for this same area, which has been in the forecast for the last week. The pattern has shifted to wetter and cooler with the regression of the high-pressure ridge.
The top story is still the tension on the Russian/Ukraine border. NATO said on Monday it was putting forces on standby and reinforcing eastern Europe with more ships and fighter jets, in what Russia denounced as an escalation of tensions over Ukraine. The move added to a flurry of signals that the West is bracing for an aggressive Russian move against Ukraine. Russia denies planning to invade Ukraine but has used its build-up of an estimated 100,000 troops near the border to force the West to negotiate over a range of demands to redraw the security map of Europe.
Have a safe day!