It was a week of big gains for corn and soybeans, and wheat as well, but today put a damper on it. Wheat, like corn and soybeans came out of the chute this morning following on the double digit close in the overnight market. But wheat may have been buffeted (corn too) by speculation on whether Ukraine is going to ship grain. Key developments include the following:

This week, the UN established the Joint Coordination Center in Istanbul to facilitate sales.

Ukraine’s harvest has picked up pace and has already netted 11.7 MMT of grain. The country could export 5 MMT of grain/month. At least one major insurance company has agreed to issue $50 million in coverage.

Ukrainian Infrastructure Minister Oleksandr Kubrakov says the...