Thursday May 5, 2022

• Markets continuing higher today as wheat leads as escalations in the Ukraine continue to add uncertainty over the supply chain
• Concerns brewing in the energies sector helping to support commodities this morning as well with Europe considering ramping up bans on Russian imports
• India expecting a 5% decline in wheat production for 2022 due to severe heat stress on the crop 
  • They also announced they have no intention on placing restrictions on wheat exports 
• Ukrainian Ag Ministry says they have enough domestic grain stocks to feed its people, and has enough fuel and fertilizer for spring planting 
  • This comes after Russia was accused of stealing 400,000 MT of grain from occupied regions 
• Brazil expecting to see a 4.1% increase in planted acres for soybeans for the 2022/23 season at 100.8 million acres 
• Weekly U.S. export sales report 
  • Lower end of expectations for corn sales, soybean sales surpassed expectations, wheat fell in mid-range