Wednesday August 31, 2022

  • Markets continue to sell off today, falling further from fresh Monday highs as we close out the month
  • Overall, lacking fresh news with Pro Farmer tour over, and further private estimates not expected until the end of the week 
  • Farm Futures Magazine released initial estimates for 2023 U.S. planting with corn at 94.3 million (up 5% year on year), soybeans at 87.3 million (down 0.8%), wheat at 48.8 million (up 4%)
  • U.S. exports remain a mystery to the markets after the new USDA reporting system failed last week with no timelines as to when regular reporting will resume