The big three futures were fading going into the reports and have reversed dramatically.
From the USDA:
Released June 30, 2021, by the National Agricultural Statistics Service
(NASS), Agricultural Statistics Board, United States Department of
Agriculture (USDA).
Corn Planted Acreage Up 2 Percent from 2020
Soybean Acreage Up 5 Percent
All Wheat Acreage Up 5 Percent
All Cotton Acreage Down 3 Percent
Corn planted area for all purposes in 2021 is estimated at 92.7 million
acres, up 2 percent or 1.87 million acres from last year. Compared with last
year, planted acreage is expected to be up or unchanged in 28 of the
48 estimating States. Area harvested for grain, at 84.5 million acres, is up
2 percent from last year.
Soybean planted area for 2021 is estimated at 87.6 million acres, up
5 percent from last year. Compared with last year, planted acreage is up or
unchanged in 28 of the 29 estimating States.
All wheat planted area for 2021 is estimated at 46.7 million acres, up
5 percent from 2020. This represents the fourth lowest all wheat planted area
since records began in 1919. The 2021 winter wheat planted area, at
33.7 million acres, is up 11 percent from last year and up 2 percent from the
previous estimate. Of this total, about 23.6 million acres are
Hard Red Winter, 6.59 million acres are Soft Red Winter, and 3.50 million
acres are White Winter. Area expected to be planted to other spring wheat for
2021 is estimated at 11.6 million acres, down 5 percent from 2020. Of this
total, about 10.8 million acres are Hard Red Spring wheat. Durum planted area
for 2021 is expected to total 1.48 million acres, down 12 percent from the
previous year....
....MUCH MORE