Cargill and Viterra announced they will no longer export Russian grain as of beginning the new crop marketing year. That does not mean Russia will be shut-out of the wheat export market, but it will hurt them. The US wheat marketing year begins June 1st; the Russian wheat marketing year begins July 1st.
USDA announced yesterday morning the sale of 204,000 mts of old crop corn to China. That is the 11th old crop corn export sale in the last 12 days. All but one of the sales were stated to be to China.
Ethanol production was up last week, ethanol inventory was down and gasoline demand was up. It cannot get much better than that if you grow corn.
The world veg oils are on the move higher. EU veg oil is 15% higher than a week ago, canola futures price has settled higher five straight days with palm and soy oil higher the last 4 days.