March Planting Intentions & Grain Stocks

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The initial impression from today's reports is there is more corn in the bin than traders had expected and farmers (at least when they were surveyed earlier this month) intended to plant more corn acres than anticipated.

Corn stocks in all positions came in at 8.605 billion bushels, 288 million bushels bigger than the average trade guess. Wheat and bean stocks in all positions as of March 1 were in line with trade expectations.

Prospective plantings revealed that farmers intended to plant 92.792 million acres of corn, just under 1.5 million more acres than traders expected.

Soybean acres are projected at 84.617 million, 1.583 million acres lower than the average trade guess.

Wheat acres came in below expectations with all wheat coming in at 45.754 vs. a trade guess of 46.9 million acres. This would be a 2 million acre reduction from last year.

Spring wheat and durum acreage came in below expectations while winter wheat acres fell right in line with pre-report estimates.

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These data and comments are provided for information purposes only and are not intended to be used for specific trading strategies. This commentary is written as a daily marketing tool to help farmers sell the grain they raise. Although all information is believed to be reliable, we cannot guarantee its accuracy or completeness. Past performance and testimonials are not necessarily indicative of future results. Commodity trading involves the risk of loss, and you should fully understand those risks before trading.