Friday August 19, 2022

Mixed markets this morning with wheat seemingly to have found a bottom after a drastic turn lower mid week
Wheat futures seeing 10+ month lows as wheat continues to flow out of the Ukraine
Ukrainian 2022 grain production overall down to an estimated 50 MMT compared to 2021’s 86 MMT
- Wheat harvest now 91% completed at 17.4 MMT
International Grains Council cut their 2022/23 world corn production estimate by 10 MMT to 1.179 Billion MT due to reductions in the European and American crops, despite seeing increases from South America
Forecasts continue to look beneficial for U.S. summer crops coming into the weekend