On Thursday, June 30 at 7:30 a.m., USDA will release its planted acreage report and quarterly stocks estimates. These reports will provide vital market information, as they will detail the actual amount of crop acres planted following the widespread planting delays earlier this year.
On Thursday morning, AgWeb will highlight all of the important report data, as well as provide analysis about what the numbers mean for you.
What should you expect in the report? Here is some pre-report commentary to ponder.
Wild Week for Corn
As the first delivery date looms, speculators jump out of the July market, sending futures prices spiraling down.
As the first delivery date looms, speculators jump out of the July market, sending futures prices spiraling down.
The near completion of planting, except for double-cropped soybeans, and less threatening weather may reduce crop concerns for now, resulting in some modest price weakness. The June 30 USDA Acreage and Grain Stocks reports will provide additional price direction.
A large number of factors have contributed to the higher prices of corn and other commodities over the past year. The beginning of the price increase can be traced to the USDA's forecast of 2010 corn planted acreage and the estimate of June 1 corn stocks released on June 30, 2010, said University of Illinois agricultural economist Darrel Good.
After one of the slowest planting seasons on record, the U.S. corn crop is finally in the ground. The abnormal planting progress of the last few months has sent the corn market on a crazy roller coaster ride.
Corn futures dropped significantly as contract highs were reached last week and demand fears took over, says Jerry Gulke.
Prices of corn, soybeans and wheat continue to move erratically, reflecting both new information and the lack of some information, said a University of Illinois agricultural economist.
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