The initial look at 2020 U.S. corn, soybean and wheat acres from the USDA last week came out pretty much as the trade was expecting. 

For this coming year, the USDA is predicting plantings of 94 million corn acres compared to 89.7 million a year ago. Soybean acres are projected at 85 million, up from last year’s 76.1 million. Wheat acres are forecast to decrease a slight 200,000 for 45 million total. The main reason for the overall acreage increase was the return of last...