Friday February 21, 2020

• Yesterday at day one of the USDA Ag Forum 2020 corn acres were pegged at 94 million, soybeans at 85 million and wheat at 45 million – a touch higher than estimates for all three major commodities 
• Weekly export sales released this morning, strong week for corn coming in higher than expected however soys and wheat disappointed both failing to meet even the low end of the expected range
• Russian wheat export program has totaled 24.7 MMT since the start of its marketing year on July 1 up to February 18
• Ukraine’s marketing year to date is also up at 16.3 MMT – an increase of 32% year on year