June 30th USDA Report Summary

Thursday’s USDA report surprised most people with corn planting acres as well as stocks up higher than even trade estimates.

Estimating planted acres at 94.15 million, which is up a good 1.5 million from expectations.

Soybean acreage is also up but not as dramatically.

Corn stockpiles are also higher than expected which has dragged down pricing.

We are into a weather market now it appears – will the big crop get bigger or smaller?

Time will tell.