Monday March 14, 2022

• Mixed markets coming out as the market seems to be settling into slightly less volatile trade 19 days after the beginning of the war on Ukraine 
• Russia and Ukraine are said to be in “talks” looking for a resolution – however we have seen no action to indicate any progress towards peace
• Ukraine’s deputy Ag Minister said the country has enough grain stockpiled – 6 MMT of wheat and 15 MMT of corn – that their people would not run out of bread 
  • He also stated that at this point he is still expecting planting to begin as normal in the coming weeks 
• Russia has begun wheat exports again out of the Black Sea 
• At the end of this month we will get the first acreage indication from the USDA for the spring planted acres – estimates for this report will begin to surface over the next two weeks