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Futures Close 06/07/22

US funds sold off following their long weekend.  US crop weather improved slightly with rains hitting some key areas helping bearish sentiment, although official crop ratings declined again week on week.

64% of the corn crop as good to excellent as of Sunday, down 3 percentage points from the previous week.  63% of the soybean crop as good to excellent, down from 65% last week.

Canadian wheat plantings seen at a 9 year high of 25.4 million acres – up from the last estimate in April which was 25 million acres, farmers responding to higher commodity prices.