September 23, 2017

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USDA PROJECTS HIGHER CORN ACREAGE

USDA released their Planted Acreage Estimates and June 1 stocks report Friday.  Trade estimates were expecting soybean acres to increase, possibly above corn acres.  However, USDA increased corn acres from their March estimate up to 90.9 million acres.  They also reported June 1 corn stocks of 5.225 billion bushels which was about 100 million bushels over trade estimates.

The trade estimates were expecting soybean acres to increase but USDA left them unchanged from March at 89.5 million acres.  Soybean stocks were reported at 963 million bushels which was 20 million bushels below the average of trade estimates.

Read the complete NASS acreage report here

Read the complete NASS stocks report here

Graphics courtesy of Advance Trading Inc