June 27, 2017
Grain Marketing Specialist
USDA QTR STOCKS AND PLANTED ACRES REPORT OUT FRIDAY AT 11 AM!
Talk to your Grain Marketing Specialist to place your target orders.
Estimated Planted Acres (in millions)
Estimated Stocks (in billions of bushels)
Corn: 2 higher
Export inspections, released yesterday, were bullish and helped support the corn futures. Inspections, reported, were at 38 million bushels. This was lower than last week, but still ahead of USDA’s expectations. The new crop, crop ratings did not improve from last week. We are at 67% good to excellent. Weather outlook is favorable.
Soybeans: 7 higher
Weekly inspections were reported at 11.6 million bushels. This is well above USDA expectations. Total inspections are at 1.919 billion bushels. This is up 18% from a year ago. Weather, much like corn, is not seen as a factor as we progress through the week, but crop conditions did slightly decrease from 67% to 66% good to excellent.
Wheat: MPLS 6 higher. KC 2 higher.
Weekly export inspections came in, for wheat, at 23.1 million bushels. This was higher than this time last year. Winter wheat conditions did not change from last week and stayed at 49% good to excellent. Spring wheat dropped 1% to 40%.