Stocks and Acreage Report

Corn closeup

Bullish corn is at 89.49, below trade guesses at 92ish. Dec corn up 35, which is the daily limit.

The bean number is a bit bearish but not too terrible; beans are off 8.

Wheat followed corn, with friendly acreage by 300k or so; wheat is up 35.

Overall, we are watching weather for planting even more closely, and the situation in Ukraine will be a large factor. It would not be surprising to see a shift up in corn and down in beans on the June report.

Overall, there is no change to current predictions that May-June could see a great selling opportunity.