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USDA Report surprises the market with a bullish corn acreage number of 90 million acres, down 4.61 million from last year. Soybeans at 86.5 million, down 3 million from 2023. All wheat acreage was down from last year at 47.5 million, but above estimates. Quarterly stocks were bullish for corn coming in 80 million bushels below estimates at 8.35 billion bushels. Soybean stocks at 1.85 billion and wheat at 1.09 billion, both above estimates. Brian Splitt, AgMarket.Net, looks at what this mean for prices.
See omnystudio.com/listener for privacy information.
By Michelle RookUSDA Report surprises the market with a bullish corn acreage number of 90 million acres, down 4.61 million from last year. Soybeans at 86.5 million, down 3 million from 2023. All wheat acreage was down from last year at 47.5 million, but above estimates. Quarterly stocks were bullish for corn coming in 80 million bushels below estimates at 8.35 billion bushels. Soybean stocks at 1.85 billion and wheat at 1.09 billion, both above estimates. Brian Splitt, AgMarket.Net, looks at what this mean for prices.
See omnystudio.com/listener for privacy information.

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