USDA's Acreage Surprises Spark Market Surge

1 min read
Source: DTN The Progressive Farmer
USDA's Acreage Surprises Spark Market Surge
Photo: DTN The Progressive Farmer
TL;DR

The USDA's Acreage and June 1 Grain Stocks reports revealed that farmers planted 94.1 million acres of corn, the highest since 2013 and the third highest since 1944. Soybean acreage is pegged at 83.5 million acres, 5% lower than last year. The grain stocks estimates indicate a decrease in corn and soybean stocks compared to last year.

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