As of May 29, U.S. corn planting sits at 86% complete. Only four states are behind average in terms of corn planting pace: North Dakota, 27% behind; Minnesota, 10% behind; Pennsylvania, 10% behind; and Colorado, 2% behind. As for soybeans, 66% of the crop has been planted. North Dakota is 47% behind and Minnesota is 25% behind.
The situation in the Black Sea region has taken a strange turn and increased market volatility. North Dakota weather has switched from drought conditions in 2021 to too much precipitation this year. Total planted acres for the country are still a question market. June and July could still get exciting, says Jon Scheve.
Will Record-High Diesel Prices Race Even Higher with EU's Partial Ban on Russian Oil?
Even with the partial ban by the European Union, Debnil Chowdhury, with S&P Global Commodity Insights, says it's possible diesel prices could see a slight reprieve, 50¢ to 60¢, in the coming weeks.
Shanghai’s Vice Mayor Wu Qing said over the weekend that authorities will loosen the conditions under which companies are able to resume work this week, and the city’s government laid out a 50-point plan for accelerating economic recovery. Measures include tax cuts for businesses and subsidies for purchases of electric vehicles.
