5/18/2022
Sheila Schelske-Grain Marketing Specialist
May 18th Agtegra Morning Market Insight

CORN: As of 8:20– July= Down 2; Dec= down 5
Ukraine seems to be exporting a bit more corn than expected. March 1st- May 9^th shipments totaled 1.0 MMT, with 77% of that leaving via the rail system. This is about 2 times the forecast from the start of the invasion. There is some concern that frost may damage immature corn in some areas of southern Brazil.

SOYBEANS: As of 8:20 – July= Up 3; Nov = Unchanged
The 21/22 Argentina soybean production estimate was left unchanged this week at 40.0 MMT. Harvest was at 64.9% complete vs the average of 76.1%. Export sale of 229,200 metric tons of soybeans was received. 10,200 metric tons of which is old crop and the rest is for 22/23 marketing year.

WHEAT: As of 8:20– KC Sept= Down 32; MPLS Sept= Down 22 ¾
Isolated scattered showers across the Central and Southern plains this week. Temps are expected to be above normal through Thursday and dropping below normal Friday/Saturday.