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Grains favored the downside overnight, giving up most of the gains seen on Tuesday following USDA reports.
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Corn acres top expectations, soybeans modestly below.
USDA estimates corn acres well above analysts’ average pre-report estimate, while soybean acres were lower. March 1 corn stocks were slightly below expectations, while soybeans were slightly above. Wheat stocks were as expected.
Corn falls to 95.3M acres (-3%) while soybeans rise to 84.7M (+4%). Wheat hits a record low 43.8M acres (-3%) and cotton climbs to 9.64M (+4%).
Pro Farmer editors provide daily updates on advice, including if now is a good time to catch up on cash sales.
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