Corn Morning Update
<font face="verdana"><b>Corn Morning Update</b><br><br><u>QT News - Top News</u><br>-- Ukraine and neighbor Poland have recently signed agreements to add inspectors as means to help simplify and boost volume of Ukraine grain exports through Poland<br>-- APK-Inform on Tuesday said the national railway of Ukraine has imposed corn transporation restrictions to Danube River port Reni. The ban begins May 18th and will be in effect until cancelled. There have been a large number of train cars accumulated at the Reni port.<br>-- Mexico's government on Monday announce 1 year waiver for import duties on most foodstuffs and other household staples. The move is to curb inflation. The list of food stuffs include corn, wheat, wheat flour, beef, chicken, pork, eggs, milk, fruits and vegetables. Duties on live cattle, hogs, and chickens will also be suspended.<br>-- Moscow said Russian fertilizer producers are trying to fulfill their contracts, complaining sanctions have blocked them. The UN yesterday proposed working to allow Russian potash exports in exchange for safe export passage of Ukraine grain via Black Sea ports.<br>-- Analysts and traders say high energy prices are prompting Brazilian sugar mills to cancel sugar export contracts and in turn are pushing production towards Ethanol output. Some say the washouts are being accepted by mills when the price of cancellation is less than the higher margins for ethanol.<br><br><u>USDA Weekly Progress/Highlights</u><br></font><ul><li><font face="verdana">USDA Monday weekly crop progress report: Corn planting progress at 49% complete compared to last week's 22% and year ago week 78%</font></li><li><font face="verdana">USDA Monday weekly crop progress report: Corn emerged progress at 14% complete compared to last week's 5% and year ago week 38%</font></li><li><font face="verdana">USDA Monday weekly crop progress report: Sorghum planting progress at 26% complete compared to last week's 22% and year ago week 26%</font></li></ul><font face="verdana"><br><u>Pending Tenders</u><br>NA<br><br><br>-- Euronext Paris June corn futures on Tuesday are trading -4.75 euros lower at 367.50 euros/mt<br>-- Dalian Sept corn futures on Tuesday traded +16 yuan higher ending at 3,008 yuan/mt<br>-- Outside markets. Crude Oil +$1.14 ; Gold +$15.50 ; Silver +26.9c ; US $ index -77 pts<br><br><br><u>QT News Cash Markets</u><br><br></font><div><font face="verdana"><img src="https://download.qtmarketcenter.com/jay/DailyCash-220517.JPG"></font></div><div><font face="verdana"><br></font></div><div><font face="verdana">LJ<br></font></div><font face="verdana"><br></font>