Thursday May 19, 2022

• Markets recovering from overnight losses – wheat still lower but not as drastically as in overnight trade and still well ahead of where we closed out last week 
• Wheat Quality Council Tour continues in Kansas in the Southwest reporting 37 bu/ac yield estimates compared to the average of 47.1 bu/ac
• SovEcon pegged 2022 Russian wheat production at a record 88.6 MMT – up from 76 MMT in 2021
• Weekly U.S. export sales numbers were mostly unexciting, coming in within expected range, with the only sales exceeding estimates being old crop soybeans helping to boost that market this morning 
• Indonesia planning on lifting palm oil export ban next week – not coming as a shock to the market