Friday October 7, 2022

  • Markets sitting in the green as we come through the last trading session of the week
  • Soys and corn lower overall this week as harvest saw good progress both in Ontario and across the U.S. over the past 5 days pressuring the market
  • Basis levels have also been yo-yoing this week with the volatility we have seen the in the U.S. dollar
  • Estimates continue to be released for the USDA report that will come out next Wednesday – bulls looking for lower yield expectations 
  • IHS Markit (formally Informa) pegged the 2022 U.S. corn yield at 171.2 bu/ac and soybeans at 49.9 bu/ac 
    • The September USDA estimate for corn and soybeans were 173.5 bu/ac and 50.5 bu/ac respectively 
  • Wheat is acting as the leader this morning as concerns are sparked fearing further escalation in the Ukraine over the weekend