Written Commentary
STOCKS/ACRES REPORT HIGHLIGHTS
- Soybean acres and stocks numbers lower than expected seen as bullish
- Corn acres quite a bit higher seen as bearish
- Wheat acres in line with estimates
- USDA estimated US June 1 soybean stocks at 795 mil bu vs 812 expected and 968 last year
- USDA estimated US June 1 corn stocks at 4,106 mil bu vs 4,255 expected and 4,349 last year
- USDA estimated US June 1 wheat stocks at 580 mil bu vs 611 expected and 698 last year
- USDA estimated US 2023 corn acres at 94.1 mil vs 91.85 expected and 88.58 last year
- USDA estimated US 2023 soybean acres at 83.5 mil vs 87.67 expected and 87.45 last year
- USDA estimated US 2023 all wheat acres at 49.6 mil vs 49.65 expected and 45.73 last year
- USDA estimated US 2023 spring wheat acres at 11.1 mil vs 10.51 expected and 10.83 last year
- USDA estimated US 2023 cotton acres at 11.09 mil vs 11.12 expected and 13.76 last year
Infographic
(Click for larger image)
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.
