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Agricultural News

The Latest USDA Grain Stocks and Prospective Planting Report Is Being Called Friendly

Fri, 30 Mar 2012 08:29:15 CDT

USDA released the regular Grain Stocks report along with the annual springtime Prospective Planting numbers this morning, March 30, 2012. Most of the attention has been on the corn acres. The USDA report showed prospective planting of the corn is 95.9 million acres, even higher than the pre-report estimates. Soybean acreage came in lower than expected at 73.9 million acres. All wheat came in lower than expected also at 55.9 million acres with winter wheat at 41.7 million, slightly lower than expected.

Grain stock numbers all came in lower than what the trade was expecting, with corn stocks just over six billion, soybeans 1.37 billion and wheat at 1.2 billion bushels.


As far as trading today, the look of this report is friendly for the soybeans and wheat. The report is being called friendly for the corn but mainly for the old crop.
To see all the numbers from USDA click on the following links -
USDA Prospective Planting Report

USDA Grain Stocks Report
You can hear Tom Leffler of Leffler Commodities analyze both the latest USDA Grain Stocks and Prospective Planting report by clicking on the sound bar below.



    

Tom Leffler of Leffler Commodities right-click to download mp3

 

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