Tuesday June 14th, 2022
- Heat is expected across much of the corn belt in the upcoming week, this will be good for the grain that has had a good start so far (Corn 72% good/excellent Beans 70% G/E) until and if the moisture runs out
- Much of the corn is now in the ground with only North Dakota and Pennsylvania at <90% planted and only North Dakota, Kansas, Missouri <75% planted for beans
- Ukraine is expected to be finished spring planting with total lost acres of around 20% yoy, much higher then estimates at the start of the war. There has been some acres shift due to input availability, that we could still see affect end totals with producers favoring crops that require less trucking and drying (due to fuel shortage) and ones that require less inputs in general (due to fertilizer shortage)
- Ukraine’s Ag minister has been quoted saying the war “could” cause a production shortage for up to 3 years with some fields still needing to be un-mined as well as destroyed storage and infrastructure, winter wheat is of particular concern. Grain exports are increasing but still well behind the usual pace
- Winter wheat conditions continue to improve for the fourth straight week albeit from some of the worst conditions in the past 30 years.