Wheat conditions better than expected.

Grain complex is higher as the Ukraine conflict shows only signs of escalation and the US weather is not cooperating with early planting. Yesterday’s crop progress report showed no real planting progress last week which is no surprise but they did bump the winter wheat condition by 2% but the states that were raised were not in the dry Southern Plains. The Northern Plains have a spring blizzard rolling in and while the moisture is welcome the lack of warm temperatures and timing has planting stuck in neutral. Expecting a pullback from the overnight highs but markets should stay well supported. NFC Grain Comments 4.12..22 (1)

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