Marketing-Communications
North Dakota, South Dakota, Minnesota and Montana, will be resurveyed.
Because of late planting and flood related crop losses, acreage uncertainty will linger for several months.
Get ready for a big move in corn prices. USDA’s June Grain Stocks report comes out tomorrow morning, and it tends to swing the market.
If the ethanol subsidy is eliminated as some in Congress are calling for, corn stocks-to-use could increase, potentially putting modest pressure on corn prices.
Following Thursday’s USDA reports, the market was full of action. Jerry Gulke says Friday was a wild trading day and that farmers are feeling the lure of $8 corn.
Corn and soybean stocks may be growing but average prices for new-crop corn and soybeans could be headed to all-time highs.
Acreage would produce 13.83 bill. bu. crop if trend line yields are realized.
There can be little doubt that NASS acreage and production reports are among the biggest market movers year-in and year-out.
Rising corn futures picked up momentum today after Informa Economics estimated that producers will plant fewer corn acres than USDA projected last month.