Your Pro Farmer newsletter (May 14, 2022) is now available

( )

USDA’s May crop reports featured the first official 2022-23 balance sheets and its initial 2022 winter wheat crop estimates. It was the winter wheat crop that caught traders by surprise, especially the HRW estimate, which came in 95 million bu. lower than the average pre-report estimate. USDA’s old- and new-crop wheat ending stocks forecasts were also lower than anticipated. The corn and soybean ending stocks data was generally neutral – even a little negative for old-crop corn compared to pre-report expectations. The one surprise for corn was a 4-bu.-per-acre cut to the projected yield due to planting delays. USDA has made downward adjustments to yield due to late plantings only a handful of times in the past, the most recent being 2013. USDA’s smaller-than-expected winter wheat crop estimate and early reduction to corn yield puts even more focus on weather amid global supplies concerns. Besides USDA’s monthly update, Brazil, China and others made changes to their crop estimates and balance sheets. We cover all of these items and much more in this week’s newsletter, which you can download here.


Latest News

Friday Wrap Up | May 20, 2022

Davis Michaelsen and Editor Brian Grete discuss this week's market action...

After the Bell | May 20, 2022

Wheat futures extend steep selloff on heavy liquidation to end lower on week; soybeans surge to four-week high.

Another bearish placements figure

USDA's estimated April placements down 0.9% from last year, whereas traders expected a 4.6% decline, on average.

Pro Farmer's Daily Advice Monitor

Pro Farmer editors provide daily updates on advice, including if now is a good time to catch up on cash sales.

House Passes Gas Bill | May 20, 2022

Malaysia maintains palm oil export tax, France's wheat crop ratings soften and Biden Administration lends flexibility to refiners on RFS requirements...