The USAD announced this morning that China canceled 245,000 MT of old crop beans from the United States. While the Bears have been hyping about China cancelations for a long time this was a minor amount. The market seems to feel the same way because at this point beans are only down ten to twelve cents a bushel at this point. From the lows of about a month ago beans have rallied around two dollars a bushel. So, what incentive does China have to cancel beans when they bought them a while ago at much cheaper prices???? Corn is just a little below unchanged after a nice rally the last couple weeks. It wasn't long ago cash corn was about four dollars a bushel. Now cash is about four fifty. Certainly the Ukraine and Russia situation is providing some concern. The Ukraine exports a lot of wheat and corn onto the world market. If this becomes a "shooting" war who knows what the implications will be. I read that Europe gets most of their natural gas and a lot of crude oil from Russia, and the pipelines run through the Ukraine.  Than, looking into the future, with political unrest will the Ukraine be able to finance and plant a crop?