Wednesday February 23, 2022

  • Soybeans taking over as the leader today as South American production concerns remains top of mind in the Ag world
  • Yesterdays gains were fueled by the Russian invasion into the Ukraine and the uncertainty that places on one of the worlds top wheat and corn producing regions 
    • Russia and the Ukraine account for 29% of global wheat exports
    • Ukraine was China’s top corn supplier in 2021
  • The U.S. Ag Outlook Forum begins tomorrow and will offer the first insight into the 2022/23 crop Supply & Demand balance sheets
    • Trade is looking for 91.8 million corn acres – compared to last years 94.3 million acres ; soybeans looking for 89.2 million acres, up from 87.2 million in 2021 
  • USDA reported on winter wheat conditions
    • Kansas wheat at 26% good/excellent – a 4% decline from last month