Tuesday May 31, 2022

  • Wheat continues to bleed off as the soy manage to hold near highs and corn caught somewhere in between 
  • Russia still expressing that they are “willing to discuss” opportunities for grain movement from the Ukraine out through the Black Sea – keeping the wheat market dampened with the possibility 
  • Interfax-Ukraine updated their estimates for Ukrainian production for 2022 vs 2021 
    • Wheat down 44% to 18 MMT
    • Corn down 35% to 25.7 MMT
    • Overall spring planted acreage is expected to be down 22% year on year 
  • Soybeans continue to see high demand both globally and domestically and with planting in the North-Western Midwest now interrupted by volatile storm systems the bean futures are telling the North American farmer to keep planting as much as they can when they can