At 11am this morning, USDA released their Quarterly Grain Stocks and Planting Intentions reports. Below is a recap and analysis of the reports. Stay tuned for more information throughout the day and more reaction to the reports. You can view the full reports as well at the links below.
USDA planting intentions: 89.5 million corn, 91.0 million soybean, all wheat at 47.4 million and all cotton at 12.2 million acres for 2022. Corn down 4%, soybeans up 4%, wheat up 1% and cotton up 9%.
Grain Stocks: https://release.nass.usda.gov/reports/grst0322.pdf
Planting Intentions: https://release.nass.usda.gov/reports/pspl0322.pdf
Also, comments from Arlan Suderman of StoneX on the Market Talk midday update with Jesse Allen: