Following are pre-report trade expectations ahead of the June 28 USDA Acreage Report. Reports will be released at 11:00 a.m. CT. Traders look for USDA to trim its planted corn and spring wheat acreage estimates from the March intentions data, while soybean acreage is expected to rise slightly.
Acreage
| Avg.
| Range
| March 30
| 2012
|
in million acres
| ||||
Corn | 95.340 | 94.2-96.4 | 97.282 | 97.155 |
Soybeans | 78.024 | 77.10-79.24 | 77.126 | 77.198 |
Spring wheat | 12.117 | 11.70-12.70 | 12.701 | 12.289 |
Durum | 1.657 | 1.55-1.80 | 1.751 | 2.123 |
All wheat | 55.751 | 55.20-56.4 | 56.440 | 55.736 |
While a lot of attention is being put on the acreage expectations, Grain Stocks Reports in the past have been the major market movers. Given the tight old-crop corn and soybean stocks situation, the possibility of the stocks data moving the market are high. The report will set 2012-13 wheat carryover as the new marketing year began June 1.
Grain Stock Expectations
| Avg.
| Range
| Mar. 1, 2013
| June 1, 2012
|
in billion bushels
| ||||
Corn | 2.856 | 2.761-3.000 | 5.399 | 3.148 |
Soybeans | 0.441 | 0.413-0.490 | 0.999 | 0.667 |
Wheat | 0.750 | 0.732-0.781 | 1.234 | 0.743 |
Pre-report expectations compiled by Dow Jones newswire.
