Your Pro Farmer newsletter (May 7, 2022) is now available

Inflation and global food shortage concerns remain a focal point for markets. The Fed raised interest rates 50 basis points, as expected, in an attempt to combat surging prices. Other global central banks followed suit. Meanwhile, the U.S. corn planting pace remained the slowest since 2013. With the calendar flipped to May, traders are growing increasingly concerned about potential yield losses and acreage switches. Despite some recent rains, the U.S. HRW wheat crop continues to be hampered by persistent drought in the Plains. Globally, Brazil’s safrinha corn crop is facing drought in some areas, causing reductions in the country’s production forecasts. India’s wheat crop was also hurt by drought, prompting a cut to its production forecast and spurring speculation of export restrictions. USDA’s May crop report is always significant because it features the first new-crop balance sheets, but this year given the U.S. winter wheat crop issues and the uncertainties around the world, it carries even greater importance – and uncertainty. We cover all of these items and much more in this week’s newsletter, which you can download here.