Wednesday June 1, 2022

• Markets attempting a modest recovery this morning after and ugly end of May yesterday
• Wheat market will continue to closely monitor the global developments with Ukrainian exports 
• Ukraine Ag Ministry reports they need around 20 MMT of exports in order to make room for new crop harvest – a story we will keep an eye on as we get closer to their harvest 
• U.S. Crop Progress and Conditions report 
  • Corn planting 86% completed – just now one point off the 5 year average pace
  • Soybean planting 66% completed – also only behind average by one point
  • Spring wheat planting 73% complete – still well trailing average pace of 92%
  • Winter wheat conditions increased by a point to 29% good/excellent – still a wide gap off average of 50% g/e