· A trade source reports that vessel loading has halted at Russian ports due to increased paperwork from port authorities as the ruble absolutely collapse. There has been speculation this morning that Russia would implement currency controls, but its economic minister says that it will not, according to Bloomberg.

· Putin is flexing his military muscles by threatening to move nuclear weapons to the Crimea Peninsula. Some believe Putin could start shooting again to reignite nationalist passions at home that have kept him popular in recent years.

· Reuters reports that Chinese officials have informed Syngenta that it approved Viptera for import, which may reopen export channels for U.S. corn, although there has been no indication of approval for Duracade.

· Crude oil prices dropped to $53.60 early today, dropping RBOB gasoline prices to $1.51, while spot ethanol trades 5+ cents above that level.

· Some in the ethanol industry fear that this relationship will catch up with the biofuel, causing margins to collapse and production to break early next year.

· Wall Street’s fear index, the VIX, rallied to a 2-month high this morning, before breaking lower as the dollar and crude oil rally. The Dow Jones Industrial Average has traded nearly a 350 point range and is now up more than 200 points.

· Corn futures are up 1-cent on the above.

· Soybean futures are down 7 cents as South American soymeal prices soften. U.S. soymeal futures are down $4.60 per ton.

· Wheat prices are up 15 to 16 cents on the Russia trade concerns.

· Live cattle futures are down the $3 daily limit on crumbling fundamentals.

· Feeder cattle futures are down the $3 daily limit again on bearish chart signals and expectations that the cash market will follow, although the latest cash index bounced.

· Lean hog futures are down 50 to 70 cents as producers pull hogs forward on fears of even lower prices. The cash market is mostly steady to 50 cents lower, although Illinois markets are up to $1 lower.