Monday May 27, 2024

• Planting is wrapping up for Ukraine, 96.4% of there spring crop has be sown. 
• The international grain council has lowered their total grain output by 10 million tonnes for the 2024-25 marketing year. This is a result of corn production losses in Argentina and sub-Saharan Africa, and a smaller wheat crop expected in Russia, Ukraine, and the USA. IGC reported on May 23, the IGC forecasted total grain production at 2.312 billion tonnes, still up 1% from the projections. 
• Economist say that we could see Bank of Canada possibly cut the interest rate in June, they say the latest inflation data was “non-threatening”. 
• The US has seen lack of export sales as sales have shifted to Brazil as there export price remain cheaper. China has yet to purchase any US soybeans, are they waiting for brazils new crop harvest or will they we aggressively buying in the upcoming months.