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