- CBOT markets failed to hold onto early, if limited, gains as weather conditions showed no threaten signs. Limited heat has been key as far as corn is concerned, and this looks like continuing in to early July as far as current forecasts are concerned. Pollination conditions look, at this time, to be favourable although there is time for conditions to change. El Niño conditions appear to be in a holding pattern rater than building, as was previously the case, but favourable conditions look set for now.
- Other news is scant as far as Ags are concerned, the Ukraine situation remains in a position of unrest with increased troop movements, talks over gas supplies are unresolved and there are further calls for increased sanctions as a consequence. There also appears to be a rapid descent into civil war as far as Iraq is concerned pushing Brent Crude to contract highs. The world, or parts of it, are clearly in a mess but the global crop situation continues fair – long may it continue.