Friday, June 30, 2023

Agricultural Commodities—USDA Releases Acreage and Grain Stocks Reports: Corn: Sinks, Soybeans: Soar

 From DTN Progressive Farmer, June 30:

This article was originally posted at 11:08 a.m. CDT on Friday, June 30, and updated again at 11:17 a.m. and 11:20 a.m. It was last updated with additional information at 11:20 a.m. CDT on Friday, June 30.


OMAHA (DTN) -- USDA on Friday released its Acreage and June 1 Grain Stocks reports.

USDA said farmers planted 94.1 million acres of corn, above the range of pre-report expectations. It's up 6% from last year, and above USDA's March Prospective Planting report estimate of 92 million acres. It's the third highest corn planting since 1944.

On soybeans, acreage is pegged at 83.5 million acres, 5% lower than last year. It's also below the range of pre-report estimates....


Corn futures down 22.25 (+4.25%) at 501.25

Soybeans up 78.00 (+5.70%) at 1445.75