Thursday March 17, 2022

  • Markets bouncing back this morning after an aggressive sell off yesterday fueled by optimism that the Ukrainian Russian peace talks seem to be progressing – feeling today that the optimism was maybe higher than warranted 
  • Private analyst Strategie Grains is expecting an 11 MMT loss in wheat exports from Russia and the Ukraine for this 2021-22 marketing year 
  • Estimates starting to roll in for the 2022 U.S. spring planted acres – USDA will release their first official estimate at the end of the month 
    • Commodity brokerage Allendale Inc pegged corn at 92.42 million acres and soybeans at 89.3 million acres 
    • 2021’s acres were: Corn 93.4 million, Soybeans 87.2 million 
  • U.S. weekly export sales were strong this week, but significantly lower than last week 
    • Corn, surpassed expectations, soybeans on the higher end of expected range, wheat was disappointing for old crop sale but above expectations for new