Wednesday March 16, 2022

All markets lower this morning after Ukrainian president gave an address confirming that peace meetings would continue and that they are reaching more realistic negotiations
- A reminder the wheat daily limits have changed from $0.50/bu to $0.85/bu due to recent volatility – extended limits are now $1.30/bu
Kazakhstan Ag Minister does not believe that their export program will be affected by the war in the Ukraine
Grain trade association Conceral raised their estimates for E.U + U.K. wheat production estimates for 2022 from 139.8 MMT to 141.3 MMT – still lower than 2021’s 143.2 MMT
February NOPA crush numbers released yesterday came in as expected at 165.1 million bu – down from January but better than last February