Russia to de-escalate in 2 phases

Lower prices yesterday followed by mixed numbers overnight until word of Russia’s willingness to pull back its efforts in Ukraine. They have also floated the idea of a presidential meeting between Putin and Zelensky. Wheat finished the night session down 77 cents and is trading below $10. Corn is off 25 cents and soybeans off 18 cents. Crude is down 5 bucks and the USD is off 90 cents. We all expected a break on any significant positive news out of Ukraine and here we have it. Look for more selling this morning to open and see if value buyers come in to round out support. NFC Grain Comments 3.29.22 (1)

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