USDA PLANTING INTENTIONS AND QUARTERLY STOCKS REPORT

USDA released their Planting Intentions and Quarterly Stocks report Friday morning.  In general, corn acres came in about 1 million acres below the average of trades estimates with soybean acres about that much higher. Both corn and soybean stocks came in above the average of trade estimates.

They estimate 2017 corn acreage at 90.0 million acres compared to 2016 corn acres of 94.0 million.

They estimate 2017 soybean acreage of 89.5 million acres compared to 2016 soybean acres of 83.4 million.

Corn stocks are 794 million bushels above last year at this time and soybean stocks are 204 million bushels above last year at this time.

Read the complete NASS Prospective Plantings report here

Read the complete NASS Quarterly Stocks report here

Graphic courtesy of Advance Trading, Inc.