Grain futures find a quick recovery today in price after Tuesday's failure to find peace.

Grain futures are sharply lower today on several factors. Russia focusing mostly on the east allowing planting in the West, China going in the lockdowns, and crude oil crushing biofuels.

After a rough Thursday night session, grain futures turned higher during the Friday session to end the week, with a strong reversal in crude oil ending support to the biofuels.

The old saying is "you have to feed a bull every day", the old information that has supported these grains is now finding profit-taking.

Index funds were heavy buyers in the overnight session and all commodities across the board, as there is no indication of a truce between Russia and Ukraine.

Grain futures were lowermost the session especially ahead of Pres. Biden's visit with Chinese President Xi via phone this morning. In the end, not much trade was discussed, but many are concerned about tensions building between China and the US over the Russian/Ukrainian conflict.

Grains are sharply higher today as Putin overnight criticized the West and said Ukraine had to be cleansed.

Wheat futures moved limit down on rain forecasted for late March, and a potential Ukrainian truce.

The collapse in crude oil prices has now come to a $37 decline since last Monday. This put downward pressure this morning on grain prices.

Grain futures trade sharply mixed, with Russia banning all wheat exports through June 30, to stop the leaking out of the country.