Putin makes his move.

Corn and soybeans traded sharply higher overnight as Russia sent “peacekeeping forces” into Eastern Ukraine after Putin formally recognized 2 pro-Russian states as independent and by Russian law he has the right to protect them. We will see how this plays out and if there will be a peaceful resolution but we will have some volatility in the short run. Argentina received beneficial rains over the weekend trimming crop stress to 25% of the planted area but forecast turns back dry into early March. Brazilian soybean harvest is 33% done as they have had some drier weather in the north. The big driver the next few days will be the Russia situation but don’t be surprised if the highs for this event are already in. NFC Grain Comments 2.22.22