Grain futures are sharply lower today as tensions drop in the Black Sea region along with rains in the forecast 10 days out for Argentina.

Wheat futures are lower on the lack of any war development in Ukraine, along with row crop pricing lower on potential rain.

Grain futures worked on recovery in price with new export sales being announced today. Weather remains dominant.

Wheat futures continued their recovery advance from last week's lows on news that Canada lowered its crop more than expected. Soybeans and corn soybeans correct.

Not only is weather continuing to stay detrimental to production and southern Brazil and Argentina for soybeans and corn, and our exports are picking up.

Soybeans look to go out near the best levels of its movement that has transpired over the last two weeks. At the same time, wheat looks to have turned the corner after two weeks of selling.

Corn futures stumble today after China canceled some prior corn that was purchased.

It was Groundhog Day for soybeans with a repeat of new contract highs again today.

It's become a daily event with soybeans making new contract highs. The culprit continues to be declining production ideas out of South America.

Today was another day of soybeans gaining over $0.20 and wheat futures losing $0.20.