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Planting Report Boosts Grain Markets
The Grain Stocks and Prospective Plantings reports were released by the USDA on Thursday. Corn is up three percent from last year, totaling 8.89 billion bushels. Soybeans are up 21 percent at 2.11 billion bushels. Wheat stocks are down 10 percent, totaling 1.49 billion bushels. Corn planted acreage is estimated down two percent from last year at 88 million acres. Corn acreage intentions are estimated to be lower or unchanged in 33 of 48 states.