Thursday May 26, 2022

• Wheat and corn markets continue their downfall this morning with soybeans able to pull themselves out from under the feed crops wet blanket 
• Britain and Russia continue to “negotiate” as Britain calls on Russia to allow Ukrainian Black Sea exports to countries in need for food security – Russia’s response is willing, IF they see reduced sanctions, which at this point “the West” is not willing to give up 
• India intends on continuing their wheat export ban for the time being – however will continue to allow certain sales direct to governments in need of the products for their countries food security needs
• As a majority of planting is completed in the key regions in the U.S. the rain is not scaring the U.S. markets and is being well received on some of their freshly planted crops 
• Soybeans is seeing speculators “buy the dip” this morning, taking advantage of the lower prices forged in the first half of the week still looking at good demand for soy oil 
• Weekly U.S. export numbers were on the disappointing side of the expected range for all three commodities not helping with the bearish tone on the markets this morning