USDA Prospective Plantings, Grain Stocks

Lower than expected soybean acres and corn stocks have opening calls for grains and soybeans higher. We have video from this morning's CME Group webcast.

Compiled by staff

Published: Mar 30, 2012

Here are details from this morning's USDA Prospective Plantings and Grain Stocks reports:

Prospective Plantings (mln acres)

USDA Trade Avg. Trade Range USDA 2011

Corn 95.9 94.7 93.7-95.7 91.921

Soybeans 73.9 75.5 74.5-76.7 74.976

All Wheat 55.9 57.6 56.6-58.3 54.409

March 1 Grain Stocks (bln bushels)

USDA Trade Avg. Trade Range USDA Dec. 2011

Corn 6.010 6.151 5.925-6.300 9.642

Soybeans 1.370 1.381 1.325-1.467 2.366

Wheat 1.200 1.235 1.181-1.322 1.656

Illinois Acreage

According to USDA, Illinois farmers will switch about 100,000 acres from corn to soybeans in 2012 compared to last year. Farmers are expected to plant 12.5 million acres of corn and 9 million acres of soybeans.

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