Friday June 17, 2022

• Markets are mixed this morning going into the weekend with forecast continuing to show favorable wheat harvesting weather with a hot and dry corn and bean growing season
• Both European union and black sea growing regions are showing a similar forecast
• High gas prices are expected to continue which will likely discourage unnecessary travel limiting gasoline and therefore ethanol demand
• The European Commission has recommended Ukraine for candidate status in the E.U. which could further their argument of being accepted into NATO and increase the speed and supply of weapons to counteract Russia
• The USA placed sanctions on Iran, China, and the Emirates yesterday in hopes to reestablish a nuclear deal, in the past we’ve seen China place retaliatory tariffs