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