Tuesday April 5, 2022

• Wheat leading higher this morning as we saw tough numbers for the first week of USDA winter wheat conditions ratings 
• First ratings of the spring for U.S. winter wheat crop came in at 30% good/excellent rating – matched with the 2017/18 crop from the lowest initial spring ratings over the past 5 years 
• Monthly USDA Supply and Demand report will be released on Friday  
  • No major shake up expected 
  • They will incorporate the updated stocks numbers from last weeks report on the supply side