Tuesday August 30, 2022

  • Markets selling off this morning after wheat and corn made strides higher yesterday 
  • Ukrainian exports continue to flow out so far seeing 1.5 MMT leaving ports and expecting that number to rise to about 6-6.5 MMT by October
  • StatsCan updated their estimates for 2022 production to 35.4 MMT – up from 22.3 MMT in 2021 
  • Weekly U.S. crop conditions and progress 
    • Corn fell to 54% g/e – compared to average of 61% g/e
    • Soybeans remained steady at 57% g/e – compared to average of 61% g/e
  • News came out of the Ukraine yesterday regarding a missile attack on a Ukrainian nuclear facility contributing to the rise in wheat mid-day yesterday