Hedge recommendation: sell another 10% of new crop production on the opening for corn and soybeans.
On today's opening, forward sell another 10% of new crop corn and new crop beans for the upcoming growing season. December corn is over 636 with November beans over 1512 after achieving the 1550 mark overnight, and corn coming up just short of 650.
Overnight Putin has put Ukrainian grain in limbo for a time being, but it is not eliminated for the marketplace indefinitely. Putin made sure none of the grain export facilities out of southern Ukraine was damaged. He has plans to use the commodities as leverage in the world that needs the wheat, corn, sunseed's and energy products that come out of this region. In the months to come, this grain will move again and will likely not be involved in sanctions.