QUARTERLY STOCKS & PROSPECTIVE PLANTINGS HIGHLIGHTS
Report not too far from trade expectations.
Market anticipated the big switch from bean acres to corn acres.
Corn
- Mch. 1st stocks at 8.150 bil. bu. in line with expectations, down 202 mil. from YA
- Planting intentions at 95.326 mil. acres nearly 1 mil. above expectations, up 4.732 mil. from YA
- If realized the largest in 12 years
- Key States: IA +600k acres, NE +550k, MN and SD +400k, TX and IL +300k
Soybeans
- Mch. 1st stocks at 1.910 bil. bu. roughly 10 mil. above expectations, up 65 mil. from YA
- Planting intentions at 83.495 mil. roughly 260k below expectations, down 3.56 mil. from YA
- If realized would be the smallest in 5 years
- Key States: IA -450k acres, ND & MN -400k acres, SD – 350k, NE & IL -300k
Wheat
- Mch 1st stocks at 1.237 bil. roughly 20 mil. above expectations, up 148 mil. from YA
- All wheat acres at 45.35 mil. were 1.13 mil. below expectations, down 729k from YA
- 2nd lowest wheat acreage figure ever in the US.
- Winter wheat acres at 33.315 mil. were down nearly 800k from Jan-25
- Spring wheat acres at 10 mil. were at the low end of expectations, and down 623k from YA

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