Thursday April 28, 2022

• Markets mixed this morning still sitting right at or near recent highs 
• Outside buying continues to support old crop corn and wheat futures 
  • July Corn futures (CN22 – for old crop corn) are now sitting around 20 cents off all time highs of 8.4375 set in August 2012 
• Forecasts looking like they are providing a planting window mid-May – with enough time for the crop to recover through the season and still produce trendline or better yields 
• Ukraine’s Ag Ministry has reported spring planting about a quarter done for intended acres
  • This spring the Ukrainian farmer has been facing fuel shortages, bombs, land mines and debris in the field, some farmers along the front even heading to the field in bullet proof vests 
• Weekly U.S. export sales were on the disappointing side this morning however it does not seem to be weighing heavily on the market