|
| USDA REPORT
Acres:
- Corn planting intentions come in well below the estimates at 90 million. Below the Feb outlook of 91 and last years 94.64.
- Soybeans right as expected.
- SWheat very close to estimates.
Stocks:
- Corn slightly smaller than estimates
- Soybeans a tad higher than estimates
- Wheat also slightly higher than estimates
Overall a friendly report for corn. Neutral to friendly for beans and wheat.
Initial price reaction: Corn up a +20 cents. Beans rebounding off lows after trading down -13 cents before the report. Wheat rallying as well.
USDA Numbers Below*
***
In yesterdays audio update we said one surprise we could see that the market was not pricing in at all was smaller corn stocks. Here is the audio in case anyone wanted to give it a listen: https://txt.so/TuyPfi
 (Purple & Blue Bright Colourful Retro Welcome Email Newsletter (91) 2 (full).jpg)
Attachments
----------------
 Purple & Blue Bright Colourful Retro Welcome Email Newsletter (91) 2 (full).jpg (88KB - 28 downloads)
| |
|
USDA report friendly corn. Acres 90. Stocks smaller
