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.