PDF attached

 

Good
morning.
 

 

UK
inflation remains high, and they may increase rates again. Outside markets are lending support to soybean oil which is booting soybean price. Soybean meal was mixed earlier on lack of direction. News was very thin overnight. Corn is higher from follow through
buying amid US weather calling for net drying. Wheat is lower on chatter of US wheat imports off the east coast and Black Sea competition. Offshore values were leading SBO higher by about 81 points this morning and meal $0.90 short ton higher.
A
Bloomberg poll looks for weekly US ethanol production to be up 10,000 thousand barrels to 981k (990-1010k range) from the previous week and stocks down 213,000 barrels to 23.978 million.

 

Fund
estimates as of May 23

 

 

 

Weather

A map of the united states

Description automatically generated with medium confidence

 

World
Weather Inc.

 

Source:
World Weather, INC.

 

 

Bloomberg
Ag calendar

Thursday,
May 25:

  • USDA
    weekly net-export sales for corn, soybeans, wheat, cotton, pork and beef, 8:30am
  • Port
    of Rouen data on French grain exports
  • Malaysia’s
    May 1-25 palm oil exports
  • US
    poultry slaughter, red meat output, 3pm
  • EARNINGS:
    IOI
  • HOLIDAY:
    Argentina

Friday,
May 26:

  • ICE
    Futures Europe weekly commitments of traders report
  • CFTC
    commitments of traders weekly report on positions for various US futures and options, 3:30pm
  • FranceAgriMer’s
    weekly crop condition report
  • EARNINGS:
    Select Harvests
  • HOLIDAY:
    Hong Kong

Source:
Bloomberg and FI

 

 

 

 

 

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