Good morning

Mixed markets to start the week with corn down 13 and soybeans up 10.

The big headline this morning is that Ukraine said it had begun “hard” talks on a ceasefire, immediate withdrawal of troops and security guarantees with Russia on Monday, despite the fatal shelling of a residential building in Kyiv.

Both sides reported rare progress at the weekend after earlier rounds have primarily focused on ceasefires to get aid to towns and cities under siege by Russian forces and evacuate civilians; those truces have frequently failed.

The other major news story is about China. U.S. National Security Adviser Jake Sullivan plans to meet China’s top diplomat Yang Jiechi in Rome on Monday and will stress the economic penalties Beijing will face if it helps Russia in its war in Ukraine, U.S. officials say.  Sullivan will warn of the isolation China could face globally if it continued to support Russia, one U.S. official said, without providing details.

On Sunday U.S. officials told Reuters Russia had asked China for military equipment after its invasion, sparking concern within the Biden administration that Beijing might undermine Western efforts to aid Ukraine by helping to strengthen Moscow’s military. (Reuters)

Ukraine’s Deputy Ag Minister on Saturday said the country would start planting spring grains in the “coming days”, and that they have enough grain in local stockpiles to ensure the population has enough bread.


Have a Safe Day!


Garry Gard