Putin steps out of bounds.

Grains are sharply higher as Russia has launched a full-scale invasion of Ukraine outside of the eastern territories that he had deemed independent. This has caused Ukraine to shut down all ports for shipping at this time. This is unprecedented and it will be hard to estimate what will happen from here. Corn and wheat finished the night session limit up with soybean up 38 cents in May. Crude is up 7 dollars trading near $100 and the US$ is up 1.06. We would be surprised if corn or wheat come off limit today unless this conflict comes to a quick resolution. NFC Grain Comments 2.24.22 (1)