USDA Report surprises the market with a bullish corn acreage number of 90 million acres, down 4.61 million from last year.  Soybeans at 86.5 million, down 3 million from 2023.  All wheat acreage was down from last year at 47.5 million, but above estimates.  Quarterly stocks were bullish for corn coming in 80 million bushels below estimates at 8.35 billion bushels.  Soybean stocks at 1.85 billion and wheat at 1.09 billion, both above estimates.  Brian Splitt, AgMarket.Net, looks at what this mean for prices.  

USDA Report surprises the market with a bullish corn acreage number of 90 million acres, down 4.61 million from last year.  Soybeans at 86.5 million, down 3 million from 2023.  All wheat acreage was down from last year at 47.5 million, but above estimates.  Quarterly stocks were bullish for corn coming in 80 million bushels below estimates at 8.35 billion bushels.  Soybean stocks at 1.85 billion and wheat at 1.09 billion, both above estimates.  Brian Splitt, AgMarket.Net, looks at what this mean for prices.

Michelle Rook talks daily with industry analysts to break down agricultural and commodity markets. 

Michelle Rook talks daily with industry analysts to break down agricultural and commodity markets.

Markets Now with Michelle Rook

Michelle Rook talks daily with industry analyst to break down agricultural and commodity markets. 

Michelle Rook talks daily with industry analyst to break down agricultural and commodity markets.

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