Thursday November 3, 2022

  • Corn and soybean markets have been lower through the morning here with wheat trading either side of unchanged 
  • U.S. dollar skyrocketing, making U.S. commodities less appealing on the global markets contributing to their losses this morning 
  • Russia is reminding the marketplace that although they have resumed participation in the export deal for the Ukraine, there is a deadline on the agreement and it is fast approaching on November 19 \
  • StoneX updated their yield estimates for the U.S.
    • Corn up to 174.5 bu /ac
    • Soybeans down to 50.9 bu/ac
      • More private estimates will continue to roll out coming into the USDA report that will be released Wednesday 
  • Weekly U.S. export sales were on the disappointing end of expectations across the board this morning – also contributing to the negative feel in the marketplace