Thursday March 10, 2022

  • Markets attempting a recovery this morning after a red mid-week turn 
  • Export numbers were impressive this week with corn being the leader in export sales coming in about a million MT more than highest estimates
  • We continue to see the results of the Brazilian harvest roll in with production numbers declining – CONAB updated their estimate to 122.77 – below the USDA’s most recent 127 MMT 
    • Estimates started near 145 MMT at the beginning of the season 
  • They are getting rain now in Brazil and Argentina so not concern at this point for the second crop corn planting conditions 
  • Ups and downs in the war will still play its toll on the markets going forward but it feels like for the time being the topic does not have a complete monopoly on the Ag market headlines