The CBOT saw distinctly mixed trade with price action being largely determined by one of two factors: either bullishness from Ukraine’s attack on interior Russia or bearishness from favorable weather in South America. Based solely upon that statement, you can probably figure out which markets did what. If you guess that wheat was higher on the Black Sea “war risk” and corn and the soy complex fell on South American weather, you’d be exactly right. It now looks like these two factors will be the primary drivers of near-term price action, with exports, of course, playing their seasonally critical role in determining corn and soybean markets’ direction.Outside markets were mixed with U.S. stocks seeing strength in the tech sector and weakness...

TAGS – Feed Grains, Soy & Oilseeds, Wheat, Livestock, Black Sea, North America, Russia