Tuesday May 24, 2022

• Markets recovered some of Fridays losses on Monday but slipping lower again this morning
• Pressure put on the markets as planting progress begins to catch up across the U.S.  
• U.S. Crop Progress and Conditions Report
  • Corn planting reached 72% complete – compared to average of 79% 
  • Soybean planting 50% complete – compared to average of 55% 
  • Winter wheat ratings up one point to 28% good/excellent 
• Informa has updated their Ukrainian production estimates this month – increasing overall production slightly 
  • Wheat from 16.96 MMT to 17.10 MMT
  • Corn from 33.2 MMT to 39.4 MMT