Tuesday March 1, 2022

  • Markets continue to push higher as uncertainty seems to be the overwhelming feeling in the global markets 
  • Global supply concerns remain the fuel for the rally today as the war does not seem to be ceasing as we get closer to spring planting 
  • A third of the worlds exportable wheat is now unavailable due to shut downs in the Black Sea ports 
    • 16% of the worlds exportable corn and significant fertilizer and other inputs also remain landlocked in the Ukraine 
  • Furthermore Ukraine and Russia account for about three quarters of the worlds sunflower oil production – and with edible oil stocks low this is providing strength to the entire oil-grains markets 
  • We are also expecting to see further production cuts coming for Brazil this week – expecting to see some sub 120 MMT reports