Thursday November 17, 2022

• Markets continue to sink lower with the news of an extended Black Sea export agreement 
• Russia has officially confirmed their participation in the extension of the export corridor agreement for the Ukraine for an additional 120 days 
• Strategie Grains updated their estimates for 2022/23 European Union corn production to 50.8 MMT, and wheat to 125.6 MMT 
• The U.S. has had active export sales this week with over 2 MMT of corn sold to Mexico – however these announcements have not been enough to excite the market with overall very slow export sales progress this season
• Weekly U.S. export sales were strong this week
  • Corn remains the weakest link in the export program, trailing both last years pace as well as the pace needed to meet the USDA target