Written Commentary
USDA QUARTERLY ACREAGE/STOCKS HIGHLIGHTS
Today’s USDA data was largely in line with expectations.
Corn:
- June 1st stocks 4.644 bil. bu. down 7% YA, in line with expectations
- June Acres 95.203 mil. down 123,000 from March Intentions, 150,000 below expectations
- Acres down 300k in NE, 200k in KS, 150k in TX, 100k in IL and MN
- Acres up 100k MI, MO and SD
Soybeans:
- June 1st stocks 1.008 bil. up 4% YA, 28 mil. above expectations
- June Acres 83.380 mil. down 115k from March Intentions, 275,000 below expectations
- Acres down 200k in IN, MS and OH
- Acres up 400k in ND, 150k WI, 100k in KS and SD
Wheat
- June 1st stocks at 850 mil., well above 696 mil. from YA, 14 mil. above expectations
- All Wheat acres at 45.478 mil. up 128k from March intentions, in line with expectations
- Winter wheat acres at 33.325 mil. up 10k from March, slightly above expectations
- Spring wheat acres up 25k from March, durum up 93k from March
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM. The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared. The information provided is designed to assist in your analysis and evaluation of the futures and options markets. However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.
