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Davis Michaelsen is Editor for Pro Farmer’s Inputs Monitor.

Corn plantings and June 1 stocks topped expectations.

USDA raised its estimate for corn acreage by nearly 1.5 million from the end of March, while soybean acres were lowered 400,000. Meanwhile, corn, soybean and wheat June 1 stocks were each above pre-report estimates.

Decision expected to shift more interpretive power to the courts

Key Fed measure shows inflation rose 2.6% in May from a year ago, as expected

Soybeans and wheat saw modest corrective gains overnight while corn languished near unchanged. Price action ahead of today’s reports are likely to be driven by positioning.

Corn, soybeans and wheat posted mild corrective gains overnight amid light short-covering ahead of USDA’s reports later this morning.