Friday April 8, 2022

• Corn and wheat markets are sitting near recent highs this morning going into the last trading session of the week – beans have recovered well since the sell off began last Thursday
• We have the monthly USDA report out at noon today – leaving only two trading hours left in the week to digest the information 
  • No big shake up expected
• Forecasts for next week remain too cool and wet in the U.S. for there to be any discussion of early planting – helping support the corn and soy markets
• Private Brazilian analyst Conab cut their expectations for the 2021/22 soybean crop again to 122.4 MMT 
  • So far USDA has been more moderate in its reductions but we will get another update today