Tuesday March 29, 2022

  • Wheat leading the complex lower as Russia announced they plan to “drastically reduce military activity” in Ukraine, specifically in the capital, Kyiv
  • Kansas wheat ratings had a rebound this week adding to the pressure on the wheat markets – from 25% good/excellent to 32% g/e 
    • We will get official USDA winter wheat ratings beginning next week 
  • Markets still nervous awaiting Thursdays report – overall expecting acres to be maximized due to the incredibly strong crop prices seen this spring