Heavy rainfall end dryness concerns

Heavy rainfall end dryness concerns in southern Alberta, some concerns still present in southern Saskatchewan
Soybeans are regaining ground this morning after a four day losing streak while corn pushes up against recent highs and technical resistance
Crude oil and the outside marketplace in general are helping cap gains with U.S. inflation raging and Fed moves ringing in the trade’s ears
Japan bought 186k tonnes of milling wheat as planned in their regular weekly tender, including 99k from the U.S., 64k from Canada, and 23k from Australia, for August loading from AUS and Oct loading from the U.S. and Canada.
Bangladesh cancelled and withdrew their international tender for a nominal 50k tonnes of wheat, which was scheduled to close on June 22.
Russia’s ambassador to the U.N. said the country can “provide safe passage” to Ukraine grain shipments via the Black Sea, but is not responsible for establishing corridors, as those underwater mines were placed by Ukraine, who doesn’t want to remove them and leave themselves vulnerable to Russian naval attacks. Meanwhile, governments of the E.U. and the U.S. are looking into providing temporary grain storage at the ports and at the Polish border
Private analysts IHS Markit yesterday raised their 2022 U.S. corn plantings estimate to 90.965 mln ac, up 455k from their previous estimate and above the USDA’s 89.5 mln ac forecast.
Soybean plantings fell 280k tonnes this month to 88.375 mln ac, below the USDA’s 90.955 mln acres.
All wheat plantings of 46.44 mln ac stand below the 47.4 mln ac USDA, with spring wheat at 10.5 mln ac, up 340k this month but below the 11.2 mln USDA.
European Commission data yesterday showed cumulative soft wheat exports for 2021/22 at 25.94 MMT, up from 25.27 MMT on the comparable date last year, with corn imports through 6/12 at 15.60 MMT, up from 14.54 MMT LY

Mpls wheat +10
KC wheat +6
Chic wheat +6
Matif wheat +1
Canola -9
Rapeseed +2
Soybeans +9
Soybean oil -29
Crude -112
Corn +4