U.S. Department of Agriculture
Corn and soybean stocks may be growing but average prices for new-crop corn and soybeans could be headed to all-time highs.
Wet weather in some areas and dry conditions in others are wrecking havoc on some farmer’s planting progress this spring.
Soggy soils and continued rain have kept corn planting nearly at a standstill as of May 1, and progress since then has been slight at best.
USDA’ s corn planting progress are even with year-ago levels and five-year average. Changes in some states.
Corn planting has started, cotton is pacing ahead of normal and winter wheat conditions continue to slide.
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.
End users struggle to balance old-crop supplies with aggressive demand