Grain Marketing Specialist
I’m going to keep this short and sweet this morning… The highly anticipated USDA acreage and stock estimates is out at 11am cst. This will be the focus for the day. I will update shortly after the release. With the potential for high volatility I would encourage folks to have orders in place prior to the report as often times the market can make a quick move and then back away. This can be very difficult to caption without having targets working.
Corn: As of 7:35- steadyish
Ave trade estimates at 92.896 acres planted down from Mar intentions of 93.601 but up from 2015 of 87.999. Corn stocks estimated at 4.528 up from a yr ago of 4.453. Export sales released this morning at 468.5 for 15/16 and 536.1 for 16/17 vs. expectations of 700-1000 and 300-450.
Soybeans: As of 7:35- 2 higher
Ave. trade estimates at 83.834 planted acres up from Mar intentions of 82.236 and 2015 of 82.650. Stocks estimated at .829 up from a year ago of .627. Export sales released this morning at 730 for 15/16 and 798 for 16/17 vs. expectation of 500-800 and 600-800
Wheat: As of 7:35- 1 to 3 higher
Ave trade estimates all wheat acers at 49.869 up slightly from Mar intentions of 49.599 but down from last year of 54.644. Stocks at .982 up from las year at .752. Export sales released this morning at 645.3 exceeding expectation of 300-600.