India eases wheat export curbs

The wheat market was limit higher yesterday as India put in export curbs for private traders but overnight announced it would let some shipments out if they were already submitted for export and ongoing deals with other countries will be honored so that took a little wind out of the sails. Corn and soybeans were lower overnight but rebounded close to unchanged or slightly higher by the end of the night session. Looking forward, North Dakota and Minnesota and their planting progress. We are now looking at a situation where corn yield could move higher, but we lose 500k to 1.2 million acres of corn in those areas. Most other areas will still be pedal to the metal with planting the rest of the week. Today we will watch the wheat market and see how it reacts in early trading. If wheat wants to test the overnight lows it will pull corn lower but soybeans may stay firm and not follow. NFC Grain Comments Options -5.17.22

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