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Our updated monthly and quarterly price forecasts.
Grain, soybean futures mixed as traders watch Ukraine, wait for USDA crop production updates.
The U.S. Climate Prediction Center (CPC) now says there are 91% odds La Niña will persist through the September-November timeframe and 54% chances it lasts through January-March 2023.
Oil prices plunge to lowest level since January over global economic growth concerns
Drought improvement was seen in Texas, but conditions worsened in the Central and Northern Plains, along with areas of the Midwest.
Grain and soybean futures traded both sides of unchanged overnight, with corn weaker while soybeans and wheat are firmer this morning.
There is an expected weakening of demand over the next six to 12 months.
Corn and soybean basis continues to weaken as early harvest begins.
Soybeans fall to three-week low on crude oil plunge, demand concerns; corn lower, SRW posts eight-week high.
The latest ENSO forecast model runs by the U.S. National Oceanic and Atmospheric Administration (NOAA) suggested that La Nina may last longer than previously suggested.