Your Pro Farmer newsletter (October 1, 2022) is now available

Central banks around the world are scrambling to rein in runaway inflation by aggressively raising interest rates. That’s slowing economic activity. Rising interest rates and slowing economic growth are in turn causing major fluctuations in foreign exchange rates, which will impact global trade balances. The global economic and monetary engine is out of balance, causing severe vibrations into 2023... and potentially beyond. Meanwhile, geopolitical tensions have increased as Russia moved closer to annexing four regions of Ukraine, which the West and Ukraine say violates international sovereignty laws, and there was suspected sabotage of the Nord Stream gas pipeline that runs from Russia to Europe. The geopolitical upheaval has heightened global grain supply concerns, as Ukraine and Russia are major exporters of wheat, corn and sunseeds. On Friday, USDA issued Sept. 1 stocks, which were bullish for corn and negative for soybeans. The final 2022 wheat crop estimate was bullish as it came in well below trade expectations. We cover all of these items and much more in this week’s newsletter, which you can download here.