As the world seems better today than last two weeks, commodities rallied while gold and silver collapsed as everybody feels comfortable currently. Crop report at end of the week.

Soybeans tumbled another 30+ cents today as rumors came in of potential imports of Brazilian beans into the southeastern part of the US, it's an annual event that is usually used to break the market. As we discussed, the beans don't blend well in US crusher machines.

Confusion reigns over the extension of the corridor, but ships are still moving as of today. French milling wheat makes a new annual low.

Wheat futures are finding strength as Russia is standing its ground on the 60-day extension of the grain corridor, we update why that is, along with reporting on China's corn buying antics.

For the third day, China purchased corn and Russia is keeping the Safe Grain Corridor door under the suspense of extension.

The two-way street today with corn and wheat finding buying interest and soybeans deal with liquidation from heavy index fund ownership.

Russia is blocking the 120 Day corridor and they say it's going to be 60 days plus China stepped in to buy some corn.

Today's grain trade found unwinding of fund positions as index funds want to lighten their trade. Since they were short wheat, the wheat market tried to rally today on their liquidation, while soybeans experienced selling as funds liquidated their longs.

It's been a volatile week and we discussed what to expect next week.

Today's grain trade found soybeans trading back over $15, as the recent collapse has likely spurred Chinese interest in soybeans. Tomorrow's USDA sales will be watched closely at 8 AM to see if this has occurred. Also, there are concerns building that Putin will not move forward with extending the safe Grain corridor to recent attacks into the country of Russia on some villages from one the claim came from Ukrainian commandos.