Tuesday October 4, 2022

• Markets higher again this morning with soybeans leading the rally with slow U.S. harvest progress 
• Soybean basis deflating slightly this week as the Canadian dollar regains some ground back up above $0.73
• Brazil raised their estimate for 2022/23 soybean production to 153.8 MMT with planting now approximately 5% completed 
• U.S. crop progress – overall behind average pace for the 2022 harvest
  • Corn 20% harvested 
  • Soybeans now 22% harvested 
  • Winter wheat planting 40% completed 
• USDA report out next week, overall looking for lower yields, private estimates will begin rolling out later this week