Global leaders are putting more pressure on Russia to allow grain exports to flow from Ukrainian ports -- and Russia sounds somewhat willing to let that happen. Until there are actual shipments, however, the global grain supply situation will remain in flux. In the U.S., the corn and soybean planting paces nearly caught up to average by the end of May, easing concerns about acreage. USDA lowered its corn yield projection in May due to the slow planting pace. If it reversed course and raises the corn yield in the June 10 Supply & Demand Report, that would likely surprise the market. EPA set its RFS levels for 2022 and retroactively adjusted blending requirements for 2021 and 2020. Meanwhile, U.S. trade policy is shifting, with the war and how the Biden administration will handle China keys to the future path. We cover all these items and much more in this week’s newsletter, which you can download here.
Your Pro Farmer newsletter (June 4, 2022) is now available
Access this week’s Newsletter here.
